Stock market today: Dow, S&P 500, Nasdaq futures hold steady amid growing economic fears

President Donald Trump has taken a different approach to the stock market during his second term in office.

Namely: he appears to have outsourced the responsibility.

And after a sharp sell-off across the stock market on Monday saw post-election gains across the major indexes and several key tech stocks that have powered the market wiped out, it was not the president, but rather the vice president that appeared to do the talking to investors.

In a post on X, the social media platform owned by Elon Musk, a key member of Trump’s administration, Vice President JD Vance said companies that build in the US will be rewarded; for companies building outside the US, “you’re on your own.”

Last week, the president said, “I’m not even looking at the market” as the rollout of his tariff policy shook investor confidence.

Unlike his first term in office, Trump has also not spoken explicitly about the Federal Reserve and his view on policy. (Last time around, Trump repeatedly called for lower rates.)

Instead, Treasury Secretary Scott Bessent has repeatedly expressed a view that Treasury yields should be lower amid Trump’s push to clean up the federal budget and rein in spending across the government.

Given the speed and depth of the market’s sell-off since hitting record highs on Feb. 19, however, we’ll see how long the president can hold this new line.