The markets are going to boom, the stock is going to boom, the country is going to boom,” Trump told reporters Thursday afternoon, saying the reaction to his policies is “going very well.”

The US stock market is down almost 10% since President Donald Trump’s inauguration, marking the worst 10-week start under a new president since George W. Bush in 2001 during the height of the dot-com selloff.

Trump announced sweeping reciprocal tariffs and imposed 26% on exports from India, while for China, the bar was set 8% higher, at 32%. The widely anticipated announcement came from a presser in the White House as the POTUS emphasised on boosting domestic production.