Investing.com -- Market pundit Jim Cramer spoke for the vast majority of the investing public Tuesday when he asked handlers to keep U.S. President Donald Trump “away from X” as the U.S. market tries to find a bottom amid the ongoing tariff war.
“Market trying to mount another comeback, please keep President Trump away from X,” Cramer said in his own social media post on X on Tuesday.
U.S. stocks have been brutalized over the past few weeks as Trump’s tariffs on Canada, Mexico, and China and upcoming reciprocal tariffs on other nations take hold and have played out in many unexpected ways.
The S&P 500 is down by over 9% from its February highs, while the tech-heavy NASDAQ is down nearly 14%.
Meanwhile, high-flying Mag 7 stocks like Telsa and NVIDIA (NASDAQ:NVDA) are down 50% and 29%, respectively, from their recent highs.
Despite the carnage in stocks, Trump and his administration are trying hard not to react to the market’s current weakness.
Last week, Trump said he is “not looking at the stock market,” while admitting there may be some near-term turbulence as his policies take hold.
Meanwhile, Treasury Secretary Scott Bessent said the administration is focused on “Main Street, not Wall Street.” He said the U.S could enter a “detox period” as massive government sector spending moves to the private sector.