After stocks have tumbled for several days now due to escalating tariff wars, US President Donald Trump tried to calm markets on Wednesday, saying the US will be bigger and better.
He told investors that it’s “a great time to buy.”
Trump posted on social media after his announcement last week of higher tariffs on US trade partners worldwide rocked international markets, including US indices.
In retaliation China ramped up its own tariffs against U.S. goods.
Notwithstanding, Trump said, “BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!”
“THIS IS A GREAT TIME TO BUY!!!” Trump added.
After his remarks, the Dow Jones and S&P 500 indices, which started the day down, began to inch up. The tech-heavy Nasdaq composite also turned bullish its gains after Trump’s remarks.
The stocks suffered for four consecutive sessions after the US president announced the imposition of sweeping tariffs on over 180 countries, ranging from 10% to 50%.
Trump had previously shrugged off the market losses, pledging that despite short-term pain, in the end the US would benefit from his changes.
The call for confidence followed a number of high-profile market movers, including traditional Trump allies, expressing skepticism about his current course.
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