US market crash: Donald Trump comments on Wall Street's $2 trillion rout, says this

US stock market crash: Wall Street shares recorded their worst fall in five years as major US indices were knocked out on Thursday, in a reaction to US President Donald Trump's reciprocal Tariffs on major countries, which triggered the fears of economic recession. US investors lost nearly $2 trillion in their valuation.

In the response to the worst fall post covid-19 pandemics, President Trump offered a rosy assessment of the aftermath of his sweeping tariff announcements. "The markets are going to boom, the stock is going to boom, the country is going to boom,” the Associated Press quoted Trump as saying when asked about the market post his damning tariffs.

The 78-year-old made the remarks as he left the White House to fly to one of his Florida golf clubs.

“I think it's going very well. We have an operation, like when a patient gets operated on, and it's a big thing. I said this would exactly be the way it is,” he said, an apparent reference to the selloff. "The rest of the world wants to see is there any way they can make a deal," he added.

Wall Street benchmarks were sent sinking on Thursday, ending with the largest one-day percentage losses in years as sweeping tariffs ignited fears of an all-out trade war and a global economic recession. Investors fled from risky assets, seeking the safety of government bonds, as the tariffs posted to disrupt the global trade order.

S&P 500 lost 275.05 points, or 4.85 per cent, to end at 5,395.92 points, while the Nasdaq Composite dropped 1,053.60 points, or 5.99 per cent, to 16,547.45. The Dow Jones Industrial Average crumbled 1,682.61 points, or 3.98 per cent, to 40,542.71. The damage is the heaviest in companies whose supply chains are dependent on overseas manufacturing, like Apple, Nike and Walmart.

Trump on April 2, celebrating Liberation day, announced a minimum tariff of 10 per cent on imports, which ranged up to 49 per cent to several countries. India, meanwhile, has been slapped with 27 per cent tariffs, by Washington DC. The heavy tariff announcement jolted markets worldwide.