President Donald Trump blamed "globalists" when asked why his tariffs appeared to be scaring the stock market. Major stock indexes have dropped sharply this week, as rattled investors struggle to get a handle on Trump's trade policies.

President Donald Trump downplayed a stock market selloff that began immediately after he announced 25% tariffs on Mexico and Canada. During an interview that aired Sunday on Fox News, host Maria Bartiromo asked Trump about his admission that there would be economic "disruption" because of his presidency.

Trump wants Europe to spend more on security but it may also mean that stock markets overseas do better than the U.S. now.

Some on Wall Street have hoped that Trump, who was seen as friendly to business during his first term and as a candidate, would consider the stock market as something of an approval rating. This idea is sometimes called the "Trump put," a play on options terminology that suggests the president would keep the stock market from falling too far.

Trump is proposing an import tariff hiking plan on steroids, accompanied by large tax cuts. There's reason to believe that his economic policy mix will be bad news for the stock market.

By Davide Barbuscia and Carolina Mandl NEW YORK (Reuters) -Investors are recalibrating how to play U.S. President Donald Trump's whipsawing policy changes, weighing that a so-called "Trump put" supporting stock market prices may be fading and that his administration is more keenly focused on the debt markets.