‘Don’t Be Weak, Don’t Be a PANICAN’: Trump Tells Americans as Markets Sink

New Delhi: As global markets continue to tumble, US President Donald Trump weighed in with a fiery statement on Truth Social, asking Americans to remain resilient. "The United States has a chance to do something that should have been done decades ago. Don’t be Weak! Don’t be Stupid! Don’t be a Panican (A new party based on Weak and Stupid people!)," Trump wrote.

Calling for strength and patience, he added, "Be Strong, Courageous, and Patient, and GREATNESS will be the result!" His remarks come amid heightened economic uncertainty and investor anxiety worldwide.
 

‘There is no Inflation’

Prior to this, Trump dismissed inflation fears and defended his trade policies in a fiery post on Truth Social.

“Oil prices are down, interest rates are down (the slow-moving Fed should cut rates!), food prices are down, there is NO INFLATION,” Trump wrote, contradicting expert warnings about economic instability. 

He went on to tout the billions in tariff revenue the U.S. is collecting from what he called "abusing countries," singling out China for raising tariffs by 34% despite his earlier warnings. Blaming previous administrations for decades of economic imbalance, Trump declared, “They’ve made enough, for decades, taking advantage of the Good OL’ USA! MAKE AMERICA GREAT AGAIN!”

US Stocks Continue to Bleed

Meanwhile, global financial markets continued their downward spiral on Monday, as fears intensified that President Donald Trump’s escalating trade war could derail the global economy.

In early trading, the S&P 500 tumbled 3.8%, extending losses after suffering its worst week since the COVID-19 crash in March 2020. The index—widely regarded as a key benchmark for retirement and investment accounts—has now fallen over 20% from its recent peak just two months ago. If it closes below that threshold, it would officially mark the beginning of a “bear market,” a term used when a decline deepens beyond the typical 10% correction into a more prolonged and severe downturn.

The Dow Jones Industrial Average fell 1,343 points, or 3.5%, while the Nasdaq Composite sank 4.2% by 9:35 a.m. Eastern.

The financial fallout rippled across the globe. Hong Kong’s stock market nosedived 13.2%—its worst single-day drop since 1997. U.S. crude oil briefly slipped below $60 a barrel for the first time since 2021, as worries mounted that trade tensions would stifle global demand. Bitcoin also slid below $78,000, down from a record above $100,000 in January, despite holding firm in previous weeks.

Wall Street’s sharp losses delivered a jarring wake-up call to investors—not just for the scale of the selloff, but for the realization that Trump may not back off, even in the face of a market rout. For years, many believed the former president, who often boasted about record market highs under his leadership, would soften his stance to avoid economic backlash. Monday’s meltdown suggested otherwise.