United States President Donald Trump responded on Thursday to questions about the day’s stock market activity by stating he had not seen the latest figures. “Well I haven’t seen it because I’ve been here,” Trump said during a cabinet meeting. The president’s comment came in the wake of a significant market downturn that saw major indexes lose ground.

Treasury Secretary Scott Bessent, also present at the meeting, attempted to downplay concerns by highlighting positive economic indicators. “We had very good inflation numbers today. Oil is down ... I don’t see anything unusual today,” Bessent remarked.

Despite these assurances, financial markets painted a different picture. The Dow Jones Industrial Average plunged 2,000 points earlier in the day, effectively wiping out the previous session’s historic gains. The initial surge had followed Trump’s announcement of a 90-day pause on select reciprocal tariffs.

However, investor confidence was shaken as concerns mounted over the administration’s decision to impose significantly higher tariff rates on Chinese imports. Analysts pointed out that while temporary tariff relief might ease short-term pressure, escalating trade tensions with China could stifle economic growth in the long run.

The dramatic swing in the market underscored the volatility driven by trade policy shifts. Market observers remain cautious, with some warning that continued uncertainty could deter investment and further destabilize financial markets.

President Trump and his economic team have maintained that the administration’s approach is strategic and ultimately beneficial for American industry. Yet, Thursday’s sharp downturn reflects persistent skepticism from investors who fear the broader implications of a protracted trade standoff with China.

As talks with China and other trade partners evolve, the White House is expected to monitor market reactions closely while pressing forward with its agenda of renegotiated trade relationships and domestic economic reforms.