They don't have a feel for the market.
Monday's decline comes amid a federal government shutdown and repeated attempts by Trump and members of his administration to steady nervous markets, including weekend phone calls to major banks from Treasury Secretary Steven Mnuchin.
The source said Mnuchin is "under the gun", though Trump said Tuesday that he remains confident in Mnuchin and a White House source told CNN that speculation about the treasury secretary's future was "nonsense".
The stock market was only open for half a day Monday, and that was more than enough time for the Dow Jones Industrial Average to drop 2.9 percent to 21,792.20. Mnuchin also tweeted that he had checked with the heads of the six largest USA banks to ensure they had enough liquidity to operate in a stock market that has tumbled sharply since October.
Investors said his move to convene a call with the president's Working Group on Financial Markets, known as the "Plunge Protection team", may have weighed on sentiment.
A bruising December for the US markets - triggered by concerns over a partial federal government shutdown, the U.S.
"I have great confidence in our companies".
Erdogan invites Trump to visit Turkey
Turkey has also vowed that the fight against so-called Islamic State would not be slowed by the USA withdrawal. Differences over Syria have always been a source of tension between the United States and Turkey.
The President - answering reporters' questions at the White House after addressing U.S. armed forces members on a Christmas Day video conference call - said the Fed was hiking borrowing costs because the "economy is doing so well", adding that USA companies were having "record kinds of numbers" and it is a "tremendous opportunity to buy". They have record kinds of numbers. "Although his intention was a very good one, the net feeling I think was, 'Is there a bigger problem that we don't know about?" However, the Central Bank only two interest rate expected increases in the coming year, rather than three, as in September, indicated.
Trump has repeatedly and publicly lambasted Powell over the central bank's raising of interest rates.
"We continue to see strong economic growth in the USA economy with robust activity from consumers and business", Mnuchin said.
The remarks represent Mr Trump's first expression of public support for Mr Mnuchin and Mr Powell since people familiar with the matter told Bloomberg News last week that the President had discussed dismissing the Fed chief, who was recommended by Mr Mnuchin.
In a subsequent press conference, as a eresponse to questions about the criticism of Trump, Powell stated: "Political considerations play no role in our decisions about monetary policy".