President Donald Trump on Wednesday sought to calm nerves amid escalating market turmoil sparked by the ongoing trade war, urging investors to “BE COOL” just minutes after the New York Stock Exchange opened.
“Everything is going to work out well,” Trump posted on Truth Social, assuring Americans that “the USA will be bigger and better than ever before!” He followed up and wrote, “THIS IS A GREAT TIME TO BUY!!! DJT.”
Trump frequently signs his posts with “DJT”, regardless of whether the content relates to stocks or the market. Interestingly, “DJT” is also the stock ticker symbol for Trump Media, the company that owns the Truth Social platform he uses.
Markets initially responded with optimism. The Dow Jones and S&P 500 rose roughly 1% in early trading following Trump’s remarks, though the gains were short-lived as volatility persisted. Notably, shares of Trump Media & Technology Group, which trades under the ticker “DJT,” surged more than 8% shortly after the post.
The President’s comments came a day after Wall Street closed in the red for a fourth straight session. Financial leaders, including JPMorgan Chase CEO Jamie Dimon, have expressed concerns that Trump’s aggressive tariff policies could slow economic growth and increase the risk of a recession.
Despite growing criticism, the White House remains firm on its tariff strategy. While Trump has indicated a willingness to negotiate with various nations, officials maintain that tariffs are not merely a bargaining chip.
China on Wednesday retaliated with a sharp escalation of its own, announcing that it would raise tariffs on US imports to 84%, up from the previously declared 34%. The move came in response to Trump’s new 104% tariffs on Chinese goods, which took effect earlier the same day and form part of a broader crackdown targeting exports from 60 countries.