The U.S. stock market crash turned worrisome with murmurs of a recession doing the rounds. Dow Jones has fallen 1,084 points in the last five days while Nasdaq Composite fell 876 points. In addition, the S&P 500 benchmark is down 210 points in a week indicating turbulent times ahead for the economy. U.S. President Donald Trump finally reacted to the stock market crash and spoke about the long-term prospects.
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U.S. Stock Market Crash: President Donald Trump Reacts
Donald Trump did not admit that the slowdown in the economy was due to the tariffs that were imposed after he took office. However, he acknowledged that his policies have led to disruption but called the downturn a temporary blip. When asked if the U.S. stock market crash could get worse leading to a recession, he said, “I hate to predict things like that. Look, we’re going to have disruption, but we’re OK with that,” said Trump to Fox News.
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Trump added that the stock market index must not be a benchmark for America’s progress. He indicated that the U.S. stock market crash and tariffs are two different things that don’t coincide with each other. He stressed that tariffs are bringing wealth back to America and not the other way around.
“There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing. It takes a little time, but I think it should be great for us,” he said. “What I have to do is build a strong country. You can’t really watch the stock market,” Trump concluded regarding the recent crash.
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Also, Treasury Secretary Scott Bessent said the U.S. stock market crash is like a “detox period,” from the Biden administration. He stated that Trump’s America First policies will bring in wealth and fix the broken economy left by his predecessor.
