The Economic Advisor of the White House, Kevin Hassett, is next to the US President Donald Trump at the Oval Office of the White House in Washington, DC, USA, UU., March 7, 2025.
Leah Millis | Reuters
An stock market is not part of an intentional strategy of President Donald Trump, said Sunday the director of the National Economic Council of the White House, Kevin Hassett, on Sunday “This Week” of ABC. This occurred after Trump shared a link to a video on its social networks, Truth Social, who said the president was causing the markets to collapse on purpose as part of his broader economic plans.
On April 4, he shared the video, which initially appeared on Tiktok in March, two days after his fee announcement.
“Trump is colliding the stock market by 20% this month, but he is doing it on purpose … and could enrich you,” said the video. He continued adding that such Trump movement would help “push the cash to treasure bonds, which forces Fed to reduce interest rates in May … the dollar weakens and eliminates mortgage rates. Now it is a wild chess movement, but it is working.”
When he was repeatedly asked if Trump intentionally strategted a market sale, Hasset replied: “He is not trying to capture the market. He is trying to deliver to US workers.”
“It is not a strategy that markets crash,” said Hasset.
The launch of the president’s retaliation rates on Wednesday led to a steep market sale due to the growing fear of a prolonged global commercial war and a recession. He Dow Jones industrial It decreased around 2,231 points, or 5.5%, only on Friday, its greatest fall since June 2020. The broad market S&P 500 Almost 6% was sold on Friday, after a 4.8% drop on Thursday. Heavy technology Nasdaq compound It sank almost 12% in the two days after the launch of the rate and fell into the territory of the Bear market.
