Vice President J.D. Vance touted the implementation of tariffs despite Thursday's massive stock market sell-off, telling Newsmax the Trump administration is "feeling good" while also reassuring one midwestern GOP senator that American farmers are going to be among those who "reap the rewards" in the end.

Vance joined "Rob Schmitt Tonight" to react to the Dow Jones tumbling 1,679 points on Thursday in reaction to President Donald Trump's tariffs. Vance asserted that "one bad day" in the stock market is going to render a "booming market for a long time."

U.S. companies had trillions of dollars in value wiped out Thursday after President Donald Trump slapped sweeping tariffs on foreign imports.

Virtually every sector suffered big losses as U.S. financial markets closed with their biggest one-day drop since COVID-19 flattened the global economy five years ago.

Global stock markets fell on Thursday as investors reacted to US President Donald Trump's sweeping announcements on tariffs.

The UK's FTSE 100 share index fell 1.5% and other European markets were also lower, echoing falls seen earlier in Asia.

While stocks fell, the price of gold, which is seen as a safer asset in times of turbulence, touched a record high.

Traders are concerned about the global economic impact of Trump's tariffs, which they fear could stoke inflation and stall growth.

Stocks tumbled on Thursday after President Donald Trump announced his latest plan for tariffs, sparking fears of a global  trade war.

The Dow Jones Industrial Average plunged more than 1,000, while the S&P 500 and Nasdaq Composite fell more than 3.5% and over 4%, respectively.

Trump the latest tariffs on Wednesday afternoon during an event at the White House Rose Garden, which he said is going to focus on imposing reciprocal tariffs on U.S. trading partners.

Global markets reacted sharply and swiftly after President Donald Trump revealed his much-anticipated tariff plans Wednesday, with investors fleeing U.S. stock indexes and stocks of companies that rely on global supply chains plummeting.

S&P 500 futures, which indicate where it is likely to open Thursday, plunged 3%. Nasdaq 100 futures sold off by more than 4%, and Dow futures slid about 1,000 points, or 2%.

President Trump’s sweeping new tariff plan reverberated through global markets, with U.S. stock futures slumping and the dollar tumbling to its lowest level of the year. Popular stocks such as Apple, Amazon and Nike were among the largest retreaters in offhours trading and oil prices slid.

Here’s what to know:

All U.S. imports will be subject to a 10% tariff, effective April 5.

Stocks tumbled in early trading Monday as Wall Street braced for President Trump’s plan to unveil tariffs on “all countries” by midweek.

The Dow Jones Industrial Average was down nearly 400 points, or 1%, at opening. The S&P 500 and Nasdaq were firmly in negative territory, given uncertainty around Mr. Trump’s “liberation day” plan to impose levies on any nation that taxes U.S. goods.

U.S. stock futures fell Monday as traders looked ahead to “Liberation Day” for clarity on President Donald Trump’s tariff plans.

Futures tied to the Dow Jones Industrial Average dropped 326 points, or 0.7%. S&P 500 futures and Nasdaq-100 futures dipped 1.1% and 1.5%, respectively. Investors were in a risk-off mood again early Monday, selling the tech bull market winners like Nvidia, Tesla and Meta.

Wall Street roared back to life on Monday after the Trump administration signaled it could take a more measured approach on tariffs against its trading partners — boosting the risk appetite among battered investors.

The ever-volatile stock market bounced Monday as investors once again tilted toward the notion President Donald Trump’s tariffs won’t be quite as bad as first thought, with the latest rally led by the big technology stocks worst hit by the tariff-related market pullback, including Tesla, which had its best day on Wall Street in more than four months.