It comes after Trump said the US economy was in a period of transition, after he was asked about concerns over a potential recession.

Speaking to Fox News in an interview broadcast on Sunday but recorded on Thursday, Trump appeared to acknowledge the concerns. “I hate to predict things like that,” he said. “There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing.”

There are growing fears among economic analysts that growth will slow and prices will rise.

Last week, the main US markets fell back to the level before Trump’s election victory last November, which had initially been welcomed investors due to hopes of tax cuts and lighter regulation.