White Home financial advisor Kevin Hassett stands subsequent to President Donald Trump within the oval workplace of the White Home in Washington, DC on March 7, 2025.
Rear Miris | Reuters
The crashing inventory market will not be a part of President Donald Trump’s intentional technique, stated Kevin Hassett, director of the White Home Nationwide Financial Council. ABC’s “This Week” on sunday. This got here after Trump shared a hyperlink to a video His social media platform, Fact Social, claimed that the president was deliberately plunging markets as a part of his broader financial plan.
The video, which first appeared on Tiktok in March, was shared by Trump on April 4th, two days after his tariff announcement.
“Trump has crashed the inventory market by 20% this month, and he is doing it deliberately, and it could make you wealthy,” the video stated. Such a transfer by Trump “helps pushing money into funds and forces them to chop rates of interest in Might. It additionally weakens the greenback and lowers mortgage charges. It is a wild chess transfer now, nevertheless it works.”
When repeatedly requested whether or not Trump deliberately strategized the market promoting, Hassett replied, “He is not making an attempt to struggle the market. He is making an attempt to ship for American employees.”
“It isn’t a technique that may trigger the market to crash,” Hassett stated.
The president’s retaliation tariffs on Wednesday led to sudden market gross sales as a result of a chronic international commerce warfare and rising fears concerning the recession. Dow Jones Industrial Common About 2,231 factors (5.5%) fell on Friday alone. That is the biggest lower since June 2020. S&P 500 It offered nearly 6% on Friday, following a 4.8% entry on Thursday. There are a variety of know-how Nasdaq Composite It sank nearly 12% in two days after the tariff rollout and fell into the territory of the Bear Market.
