Mon Apr 07 16:00:00 UTC 2025: ## White House Denies Trump Intentionally Caused Stock Market Crash
**NEW YORK** – White House National Economic Council director Kevin Hassett has denied President Trump intentionally orchestrated the recent stock market plunge, contradicting a viral video shared by the president himself. The Dow Jones Industrial Average suffered its largest single-day drop since June 2020 following Trump’s announcement of retaliatory tariffs, sparking fears of a global trade war and recession.
The video, originally posted on TikTok in March and re-shared by Trump on Truth Social, claimed the president was deliberately causing a market crash as part of a larger economic plan, predicting that this would ultimately benefit investors. Hassett firmly rejected this claim on ABC’s *This Week*, stating that Trump’s actions are aimed at benefiting American workers, not at tanking the market.
The market selloff saw the Dow drop 2,231 points (5.5%) on Friday alone, while the S&P 500 fell nearly 6% and the Nasdaq Composite entered bear market territory after a near 12% decline over two days. These significant losses followed a sharp market decline on Thursday.
Despite the administration’s denial, the connection between the tariff announcement and the market’s reaction remains a significant concern for investors. The White House insists that the market downturn is not a deliberate strategy, but a consequence of efforts to benefit American workers.
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