It was the clearest sign yet that, this time around, the “Trump Put” may be little more than wishful thinking.

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’s acknowledgment of economic turbulence was a reversal from previous cheering of his policies, and it contrasted with reassurances from his own advisers Sunday.

President Donald Trump announced the possibility of imposing new tariffs on Canadian lumber and dairy products. According to CNN Business, Trump accused Canada of unfair trade practices, pointing to a 250% tariff on American dairy products.