President Trump took to Twitter on Wednesday to request a meeting with Chinese President Xi Jinping amid growing unrest in Hong Kong.
“I know President Xi of China very well,” the president tweeted. “He is a great leader who very much has the respect of his people. He is also a good man in a ‘tough business.’”
He added: “I have ZERO doubt that if President Xi wants to quickly and humanely solve the Hong Kong problem, he can do it. Personal meeting?”
Stocks rallied Tuesday after the Trump Administration delayed tariffs on cell phones, laptops and other gift items.
But the tables turned Wednesday on Wall Street as the Dow Jones Industrial Average suffered its worst day of the year, dropping 800 points.
Earlier Wednesday, President Trump blamed the free fall on the Federal Reserve for not cutting interest rates quick enough and the “crazy inverted yield curve” — a financial metric that’s predicted the past seven recessions.
The yield curve inversion was realized Wednesday when the return on the 10-year Treasury note dipped below the yield on the 2-year note.
It was the first time the yield curve inversion happened since 2007 — just ahead of the Great Recession.
“China is not our problem, though Hong Kong is not helping. Our problem is with the Fed. Raised too much & too fast. Now too slow to cut….” Trump said in a series of earlier tweets.
Pro-democracy protests, some violent, have swept across Hong Kong for months, resulting in hundreds of injuries and arrests.