President Donald Trump on Wednesday blamed his predecessor, former President Joe Biden, for the stock market’s weak performance, as the main U.S. indexes headed for losses after a report showed the economy has contracted.

A new report shows the first decline in the U.S. economy in three years. Trump urged patience and said his tariffs will lead to boom 'like no other.'

President Donald Trump’s first 100 days have coincided with the stock market’s third-worst start to any presidency in US history, only behind Richard Nixon and Gerald Ford. The US stock market soared after Trump’s reelection in November on hopes his administration would unleash a pro-business boom.

U.S. stocks closed out Donald Trump’s first 100 days back in the Oval Office on a sour note, with the president’s trade policies taking the blame for derailing a thriving market and stoking fears the world’s largest economy could slip toward recession.

Stocks have swung wildly during President Trump's first 100 days, with the White House's unpredictable tariff policies leaving companies and investors unsure about the economic outlook. Treasury yields and the dollar have declined as recession risks have increased and global investors have soured on U.