U.S. President Donald Trump speaks to members of the media following a ceremonial swearing-in of Eugene Scalia, U.S. secretary of labor, in the Oval Office of the White House in Washington, D.C.

President Donald Trump on Wednesday blamed the recent stock-market sell-off on Democrats pushing for his impeachment.

In a tweet, he said: "All of this impeachment nonsense, which is going nowhere, is driving the Stock Market, and your 401K's, down. But that is exactly what the Democrats want to do."

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The president's comments came as Wall Street's major stock indexes swooned for the second consecutive day. The Dow Jones Industrial Average fell more than 530 points — more than 2% — in midday trading, with all S&P 500 sectors trading in the red.

Investors on Wednesday blamed weaker manufacturing and private employment data for renewing fears of a forthcoming recession in the United States.