Wall Street led a global markets bloodbath Thursday as countries around the world reeled from President Donald Trump's trade war, while the White House insisted the US economy would emerge victorious.

The Dow Jones dropped 3.75 percent and the S&P 500 plummeted more than four percent. The Nasdaq took the worst hit, falling more than five percent.

Shock waves also tore through markets in Asia and Europe in the wake of Trump's Wednesday announcement, while foreign leaders signaled readiness to negotiate but also threatened counter-tariffs.

Trump slapped 10 percent import duties on all nations and far higher levies on imports from dozens of specific countries -- including top trade partners China and the European Union.

The 78-year-old Republican unveiled his dramatic economic gamble as a ploy to make the United States free from reliance on foreign manufacturers in a massive economic reshaping.

And on Thursday, he likened his trade war to a painful medical procedure -- due to bring success.

"THE OPERATION IS OVER! THE PATIENT........

© International Business Times