Some of Donald Trump's top officials were pressed on the stock market's hits since the president unveiled wide-reaching tariffs.

The Dow Jones Industrial Average dropped more than 1,600 points on Thursday as U.S. stocks led a worldwide selloff after the Republican president's announcement of tariffs against much of the world ignited a shock like none seen since the COVID-19 pandemic.

Treasury Secretary Scott Bessent said “there doesn’t have to be a recession,” and the market consistently “underestimates Donald Trump.” “There doesn’t have to be a recession,” Bessent said on Sunday’s episode of “Meet The Press.