Washington: Amid several days of declining stock prices, US President Donald Trump declared on Wednesday that the US economy will emerge “bigger and better than ever,” calling it “a great time to buy.”
According to Anadolu Agency, Trump made his comments on social media following his announcement the previous week about imposing higher tariffs on US trade partners, a move that had disrupted international markets, including key US indices. “BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!” Trump stated. He further emphasized, “THIS IS A GREAT TIME TO BUY!!!”
Following Trump’s remarks, the Dow Jones and S and P 500 indices, which had started the day in negative territory, managed to reverse their losses. The Nasdaq composite also saw an acceleration in its gains post-Trump’s comments.
The stock market had endured four consecutive sessions of losses after Trump announced sweeping tariffs on over 180 countries, with rates ranging from 10% to 50%. Despite the downturn, Trump remained optimistic, previously dismissing market losses and assuring that although there might be short-term challenges, the long-term benefits would favor the US due to his policy changes.
The president’s call for confidence came amidst growing skepticism from high-profile market influencers, including some of Trump’s traditional allies, who questioned his current approach.