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Donald Trump rubs it in, says 'Things are going very well' after worst stock market crash in years following Liberation Day tariffs
@Source: indiatimes.com
US president Donald Trump gave an optimistic outlook for the stock market even after the worst drop on Thursday as US stocks led a worldwide selloff, reported AP. This happened after he announced his Liberation Day tariffs, as per the report. Will the Stock Market Boom?While speaking to reporters before he leaving the White House to attend a Saudi-backed golf tournament at his club in Doral, Florida, Trump was unbothered by the Dow Jones Industrial Average's decline of over 1,600 points, reported AP. It was the biggest market decline in years since the COVID-19 pandemic, as per AP.Trump said, “The markets are going to boom, the stock is going to boom, the country is going to boom,” quoted AP.The 'Liberation Day' TariffsThe US president on Wednesday announced a basic tariff of 10% on imports from all countries, along with a higher tax rate on products from certain countries like China and those from the European Union, reported AP. This led to a selloff in markets worldwide, as per the report.Trump Compares Market Drop to a Sick Patient Needing SurgeryHowever, Trump claimed that this reaction was to be expected, according to AP. The US president even drew a similarity between the United States to a sick patient in need of surgery, as per the report. Trump's response to the worst stock market drop was by saying, “I think it’s going very well. We have an operation, like when a patient gets operated on and it’s a big thing. I said this would exactly be the way it is,” quoted AP. Long-Term Economic BenefitsTrump also mentioned that trillions of dollars in investment would be “coming into our country” from companies that want to make their products in the US to avoid tariffs, reported AP.FAQsHow did Trump react to the stock market crash? Trump remained optimistic because according to him, the market was going through a necessary phase of economic adjustment.Is Trump worried about the market crash? No. Trump expressed confidence that the economy will eventually boom, with stock values rising in the future.
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