After midterm loss, Trump says stock market suffered huge damage, vows stronger comeback

US President Donald Trump has said the midterm election results have pushed America into one of the biggest setbacks in its history.

Writing on his social media platform Truth Social on Sunday, he told Americans not to be afraid, pledging to return bigger and stronger than before.

According to Trump's claim, US stock markets lost about $3 trillion in value in a single day after news emerged that Democrats had performed well. However, it has been said that the market decline was driven not only by the election results but also by concerns over investment in the technology and AI sectors.

Speaking to reporters in Florida on Friday, he had also linked the market decline to the US policy of not allowing Iran to possess nuclear weapons.

In Tuesday's election, Democrats captured both chambers of Congress. The Republican Party suffered major losses even in states it had dominated for decades.

As Republican lawmakers blame the president for the defeat, Trump on Friday appointed hardline adviser Stephen Miller as his new chief of staff. This is being seen as a sign that Trump will move forward on an even tougher path and will not back down.