President Donald Trump is sounding an upbeat note about his tariffs even as the stock market reacted by falling more than 1,600 points.

Few Republicans are eager to defend the president's tariffs, putting the party on the back foot for the first time in Trump’s new term.

Trump Media stock fell 1.87% Thursday—less than the Dow, Nasdaq and S&P 500, which tumbled after Trump’s sweeping Liberation Day tariff announcement.

In addition, they expect these taxes will slow consumption and economic growth, possibly leading to a recession. After the opening bell on Wall Street on April 3, the Dow fell sharply in early trading and did not rebound later in the day,

Wealth management advisors say the full effects of the tariffs are yet to be seen, but some worry the impact will be catastrophic.

Stocks plunged Thursday, turning in their worst performance since early in the Covid pandemic, as market participants reacted to President Donald Trump's announcement of wide-ranging tariffs against nearly all U.

The stock market tumbled about 4% after President Trump imposes higher than expected tariffs, signaling slower economic growth and higher inflation.

On Wednesday, the Trump administration announced so-called reciprocal tariffs against dozens of countries, including a 34% levy against China, 20% against the European Union. and