Trump: China, other nations pouring money into US

President Trump said on Tuesday that “massive amounts” of money are pouring into the U.S. from foreign countries, saying the nation is in a “very strong position.”

"Massive amounts of money from China and other parts of the world is pouring into the United States for reasons of safety, investment, and interest rates!” Trump wrote in a tweet. “We are in a very strong position. Companies are also coming to the U.S. in big numbers. A beautiful thing to watch!”

The president's tweet comes as the ongoing trade war with China escalates. The Treasury Department, led by Secretary Steven Mnuchin, on Monday labeled Beijing a currency manipulator, echoing comments Trump made earlier that day.

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“China has always used currency manipulation to steal our businesses and factories, hurt our jobs, depress our workers’ wages and harm our farmers’ prices,” Trump tweeted Monday. “Not anymore!”

Trump’s statement caused U.S. equity markets to accelerate losses, which had carried over from Friday’s trading session – the Dow Jones Industrial Average had its worst day of the year, falling by much as 951 points during intraday trade, while the Nasdaq Composite was nearly 3.5 percent lower and the S&P 500 dropping 3 percent at the close.