Tariff Wars – Trump Argues US Has Gotten A Lot Stronger But Says He’s Ready To Talk To World Leaders

Amid a worldwide slump in equities and Wall Street losses since his inauguration surging to $9.6 trillion, President Donald Trump reportedly said he is ready to talk to world leaders about new deals.

While arguing that the U.S. has gotten “a lot stronger” and that sometimes it takes “medicine to fix something,” he admitted that it’s not clear what will happen on Wall Street.

“What's going to happen with the market? I can't tell you,” Trump said aboard Air Force One, according to a CNN report, while saying he doesn’t “want anything to go down.”

Ahead of the opening bell on Monday, futures point to another day in the red – Dow Jones, S&P 500, and Nasdaq 100 futures were down over 2% at the time of writing.

S&P 500 is on the edge of entering the bear territory even as President Trump urged investors to endure the consequences of his reciprocal tariff policy.

However, his position seems to have mellowed from earlier, as he said he’s “open to talking.”

Market Mayhem

Friday saw some big technology stocks like Apple Inc. (AAPL), Nvidia Corp. (NVDA), Intel Corp. (INTC), Tesla Inc. (TSLA), and Meta Platforms Inc. (META) plunge following the imposition of the tariffs and looming uncertainty on the administration’s stance. Alphabet Inc. (GOOG) (GOOGL) fell to a 52-week low.

The impact of the ongoing tariff imposition has also resulted in a sharp downturn in global equity markets — Hong Kong’s Hang Seng Index witnessed its worst single-day decline since 1997 on Monday.

Japan’s Nikkei 225 index plunged 17% at one point during the day, and circuit breakers halted futures trading during the session.

Analysts at Goldman Sachs raised their recession odds to 45% from 35% earlier—the second time in just a week. Prior to this, the brokerage had pegged the chances of a recession at 20%.

Dutch Trade Minister Reinette Klever urged on Monday that the European Union will “need to remain calm and respond in a way that de-escalates,” according to a Reuters report.

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Also See: Black Monday Redux? Global Markets Tank As Trump Tariff Fears Grip Investors, Goldman Ups Recession Odds