Donald Trump says Fed has 'gone crazy' after stocks' major drop

US President Donald Trump said the Federal Reserve "has gone crazy" after a major drop in stock prices today 

Mr Trump, who has been critical of the central bank's interest rate increases, told reporters after landing in Erie, Pennsylvania, that he thinks "the Fed is making a mistake".

He added, "I think the Fed has gone crazy." 

But he also called the drop "a correction we've been waiting for for a long time".

US stocks took their worst loss in eight months on Wednesday, with the Dow Jones Industrial Average sinking 831 points and the Nasdaq composite logging its biggest loss in more than two years. 

Mr Trump has often pointed to stock market records set during his time in office as a measure of his success. 

The US President said he thinks "the Fed is making a mistake" with interest rate increases. Source: 1 NEWS

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