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Donald Trump claims America is 'open for business' despite stock market plunge

07 February 2018, 01:17 | Katrina Lee

LIVE: Traffic updates during President Trump's visit to Cincinnati

World markets down on fears of rising US interest rates

Wall Street stocks endured a brutal session on Monday, with the Dow seeing one of its steepest ever one-day point drops, as the heady bullishness of early 2018 gave way to extreme volatility.

"Your taxes are going way down. And right now, for the first time in a long time.factories are coming back, everything's coming back". "America is once again open for business". "And un-American", Trump said about the Democrats.

In an interview previous year with The Associated Press, Trump seemed to recognize the risk of pointing to the markets as a sign of progress.

As Trump spoke, televisions across the West Wing - including those tuned to Fox - showed the stunning side-by-side images of Trump touting a booming economy while the Dow plummeted.

The stock market dove more than 4 percent on Monday, continuing last week's sharp drops after more than a year of robust gains.

Speaker hopes budget session will be smooth
The first part will go on till February 9 and Parliament will reassemble from March 5 to continue up to April 6. RJD's Jay Prakash Narayan Yadav said that they raised the issue of unemployment and oppression of the Dalits.

"Markets go up, and markets go down" was always Robert Rubin's anodyne mantra when he was President Bill Clinton's treasury secretary and asked to comment on stock market fluctuations. "But the fundamentals of this economy are very strong".

The White House had dubbed it the "Trump bump".

None of these market gyrations will matter if markets stabilize, the Federal Reserves's interest-rate brakes don't lock up, and increased economy activity boosts tax receipts to offset the deficit.

Instead, the President strayed from his prepared remarks at several points on Monday to level attacks at Democrats, at one point suggesting some Democratic lawmakers' refusal to applaud portions of his State of the Union address amounted to "treason."

News networks, many of which had been airing a Trump speech live from OH where the president had gone to promote the Republican tax reform plan, interrupted the programming to break the news.

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