Trump Tells People To Not Be 'Stupid' As Markets Continue To Crash As a Result Of Tariffs: 'Don't Be a PANICAN'

President Donald Trump reacted on Monday to the ongoing downturn in the stock markets, urging people to not be "weak" and "stupid," and claiming that his tariffs will end up delivering positive results.

In a post on X, Trump said 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!)," he added.

"Be Strong, Courageous, and Patient, and GREATNESS will be the result!" Trump finished in the message to his over 100 million followers in the social media network owned by Elon Musk.

The message came as markets continue to whipsaw, especially after a false quote briefly filled markets with hope that Trump would announce a pause to tariffs only to be proven false.

U.S. indexes surged after the quote, attributed to National Economic Council Director Kevin Hassett, began circulating online, even making its way to CNBC, according to Bloomberg reporter Joe Weisenthal.

However, the spike suddenly reversed as the quote couldn't be verified, and reviews of the official's interview with Fox News on Monday showed nothing of the kind. The White House's rapid response X account, Rapid Response 47, replied to a publication saying "Wrong. Fake News."

Trump had not hinted at a reprieve from tariffs, saying earlier on Monday that the U.S. is addressing years of abuses from other countries, especially China. In a post on his social media platform, Truth Social, Trump said that "Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long timed abused USA is bringing Billions of Dollars a week from the abusing countries on tariffs that are already in place."

"This is despite the fact that the biggest abuser of them all, China, whose markets are crashing, just raised its Tariffs by 34%, on top of its long term ridiculously high Tariffs (Plus!), not acknowledging my warning for abusing countries not to retaliate. They've made enough, for decades, taking advantage of the Good OL' USA! Our past "leaders" are to blame for allowing this, and so much else, to happen to our Country. MAKE AMERICA GREAT AGAIN!" he added.

In the meantime, Goldman Sachs has increased its forecast of a U.S. recession to 45%, also slashing the economic growth expects to 0.5%. In a note titled "US Daily: Countdown to Recession," the bank said it is increasing the probability of a downturn by 10 percentage points, from 35% to the current 45%. It cites "a sharp tightening in financial conditions, foreign consumer boycotts, and a continued spike in policy uncertainty" as a result of the tariffs announcement.