The president spoke with reporters aboard Air Force One on Sunday.
The fallout continues after President Donald Trump's unveiling of severe tariffs against virtually all U.S. trading partners.
On Sunday, ABC's "This Week" anchor George Stephanopoulos pressed White House National Economic Council Director Kevin Hassett about Trump reposting a video that said he was tanking the markets to force the Fed to lower interest rates. Hassett said Trump was entitled to his opinion, but denied that his tariff policy was intended to put pressure on the Fed to lower rates.
Trading on Thursday and Friday marked the worst days for U.S. stocks since 2020.
The stock market fell further on Friday, with major indexes down at opening.
The Dow Jones Industrial Average plummeted 925 points, or 2.25%, while the S&P 500 dropped 2.4%. The tech-heavy Nasdaq declined 3%.
The slumps come after China announced retaliatory tariffs against the U.S. overnight.
Ahead of the markets opening on Friday, President Donald Trump posted on his social media platform a message for investors.
"TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE. THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!" he posted.
The president did not specify which specific policies he was referring to, though the post comes as his tariff plan rattles the economy.
Secretary of State Marco Rubio rejected the premise that economies would enter a downturn after the announcement of Trump's tariffs but acknowledged that markets are experiencing volatility as businesses realize production norms are facing changes.
"So I don't think it's fair to say economies are crashing," Rubio said. "Markets are crashing because markets are based on the stock value of companies who today are embedded in modes of production that are bad for the United States."
"But ultimately, the markets, as long as they know what the rules are going to be moving forward, and as long as that's set and you can sustain where you're going to be, the markets will adjust," he said.
-ABC News' Chris Boccia
China will impose a 34% tariff on all American goods in response to President Donald Trump's "Liberation Day" measures, the country's tariff commission said on Friday.
"The U.S. practice is inconsistent with international trade rules, seriously damages China's legitimate rights and interests and is a typical unilateral bullying practice," the commission said in a statement.
China was hit with 34% tariffs on top of 20% tariffs Trump previously announced.
In response, a Chinese Ministry of Commerce spokesperson urged the U.S. to "immediately cancel its unilateral tariff measures and properly resolve differences with its trading partners through equal dialogue."
The tariffs will "endanger global economic development and the stability of the supply chain," they added.
-ABC News' Karson Yiu
