President Donald Trump in recent days has dismissed fears of a recession and brushed aside the stock market sell-off. That's a new message from a president who has frequently pointed to the market’s ups and downs as a reflection of himself and his activities, even when he was not in power. Associated Press reporter Josh Boak says investors are spooked by the risks of tariffs. "They're looking at the announcements coming from President Trump with regard to tariffs on Canada, Mexico, steel, aluminum and more going forward starting in April, and worrying that that's going to hurt profits, slow growth and raise prices. So, the hard question is what can the president do? Well, so far he's shown no inclination to back off tariffs and try to reach negotiated settlement," Boak said. Over the last year, while President Joe Biden was in office, Trump took credit for stock market rallies as a vote of confidence in his electoral prospects, even while he was appearing at his criminal trial. When the market dipped, he blamed Biden and Vice President Kamala Harris. “Now, in a sense, the Trump administration has recognized this challenge by saying there will be some pain, a disruption, but they haven't wanted to focus necessarily on why this pain is better than the alternative,” Boak said.