U.S. President Donald Trump said on Tuesday that the U.S. stock market would crash if he lost the election this year.

During a trip to India, Trump told business leaders that stocks would jump higher if he was re-elected, adding: “but if I don’t win you’re going to see a crash as you’ve never seen before.”

He said that his administration planned to announce tax cuts for the middle class in the not too distant future.

Trump also said that Monday’s steep fall in share prices was bad because of fears of the coronavirus, but that the U.S. was in good shape in terms of tackling the problem.

He said that Chinese President Xi Jinping was working hard on the issue, adding: “And I think it is going to be under control.

“I think it is going to work out fine. We hope so.”

NAN