Donald Trump targets New York Stock Exchange, rails against Dallas NYSE as ‘unbelievably’ bad thing

US President Donald Trump on Sunday directed his ire at the New York Stock Exchange, saying that building an NYSE in Texas was an “unbelievably” bad thing for New York, without explaining why.

In a post on Truth Social, Trump wrote, “Building a “New York Stock Exchange” in Dallas is an UNBELIEVABLY BAD THING FOR NEW YORK. I can’t believe they would let this happen.”

It was not immediately clear why Trump opposed building a New York Stock Exchange in Dallas, Texas.

Trump called the move “A big test for the new Mayor”, Zohran Mamdani, though his reference remained unclear.

Will Trump's comments affect US stock market?

Donald Trump's comments came at a time when US stock exchanges were closed for the day on Sunday. The markets are slated to open at 9:30 AM Eastern Time (ET).

According to Harshal Dasani, business head at INVAsset PM, Trump's comments may not affect the US stock markets as much because the Truth Social post "should be read more as political signalling than a development with immediate market consequences.

He said comments like the one the US President made does “little to alter the core drivers of US equities.”

Dasani noted that factors like earnings momentum, interest-rate expectations, liquidity conditions and fiscal policy remain the decisive factors that may move stock markets.

“For investors, the takeaway is to separate political noise from market substance,” he said in a statement.

All about the NYSE Texas

In February last year, the Intercontinental Exchange, the owner of NYSE, had said it was adding Texas as its venue for a secondary listing.

It was announced as a fully electronic equities exchange, headquartered in Dallas, Texas.

“As the state with the largest number of NYSE listings, representing over $3.7 trillion in market value for our community, Texas is a market leader in fostering a pro-business atmosphere,” Lynn Martin, President, NYSE Group, had said at the time. “We are delighted to expand our presence in the Lone Star State, which plays a key role in driving our US economy forward.”

NYSE Texas was touted as a listing exchange for companies incorporated both in Texas and around the world that are “attracted to Texas’s growing population, strong economy and business-friendly regulatory agenda.”

NYSE Texas, which officially opened for business earlier in 2025, saw 10 companies, including oilfield service company Halliburton and Truth Social-parent Trump Media & Technology Group, dual list on the Dallas-based exchange in the first three months.

NYSE Texas has not yet issued a statement regarding Trump's comments.