Trump and Mnuchin- Wall Street Faces Rush

Trump once boasted of market gains, now tweets cause drops

Wall Street banks reassure US Treasury amid big market falls

"But what's bad is this made the papers, and says the government is very anxious", Krosby told the paper, adding that with investors focused on so many issues, "it's nearly as if gravity is pulling this market toward a lower level before it bottoms out".

On concern of a weaker economic growth and Federal Reserve's much disputed rate hike, the USA stocks had dropped sharply and the S&P 500 plunge gathered pace.

"Treasury's readout is unusual, in our view, given that bank liquidity is not a risk or concern that has been raised by regulators, economists or analysts", analysts at Height Securities said in a note.

"They're raising interest rates too fast", he said in the Oval Office after a Christmas Day phone call with USA troops.

Over the weekend, Mnuchin spoke with the heads of the six largest USA banks, and tweeted a statement afterward assuring that none of them have "experienced any clearance or margin issues".

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"I honestly think that's the type of event that's going to startle markets and create more panic and fear when it's meant to create confidence".

"Yes, of course, 100 percent", Hassett said when asked on ABC television whether Fed boss Jerome Powell would keep his job.

All three major USA stock indexes ended down more than 2 percent on the day before the Christmas holiday.

That assurance followed Hassett's appearance on Fox Business, where the head of Trump's Council of Economic Advisers said he is highly confident that the president is happy with Mnuchin.

President Donald Trump expressed confidence on Tuesday in Treasury Secretary Steven Mnuchin, who is struggling to contain his first real crisis but has failed to assuage investors unnerved by turmoil in Washington.

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There's some plays he's met in the backfield, and still finds a way to get back to the line of scrimmage and get 2, 3 yards". To win games in the National Football League against upper echelon teams , role players have to step up and perform well.

"We've all been doing that really quite a bit over the few weeks".

The Dow Jones Industrial Average .DJI fell 653.17 points, or 2.91 percent, to 21,792.2, the S&P 500 .SPX lost 65.52 points, or 2.71 percent, to 2,351.1 and the Nasdaq Composite .IXIC dropped 140.08 points, or 2.21 percent, to 6,192.92. "Although his intention was a very good one, the net feeling I think was, 'Is there a bigger problem that we don't know about?" Trump nominated Powell previous year to take over the Fed, but since interest rates began rising, Trump has upped his rhetoric against Powell. Phone calls Mnuchins with the heads of some of the largest American banks seem to have investors, however, rather more anxious.

Far from calming the markets, the moves seemed to exacerbate Wall Street concerns.

Federal Reserve Chairman Jerome Powell speaks during his news conference after a Federal Open Market Committee meeting in Washington, US, Dec. 19, 2018.

With stocks on track for their worst December since the Great Depression, Mr Trump has regularly berated the Fed for its stewardship of the economy.

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