It’s not just that Donald Trump is wrong about the EU being formed “to screw the United States.” It’s also the question of who put this absurdity in his head.

The president said he would impose the levies if the European Union did not walk back plans to place retaliatory tariffs on whiskey and other U.S. products.

The Dow lost more than 500 points Thursday and the Nasdaq dropped more than 300 as investors reacted to President Trump's threat to impose a 200% tariff on European Union exports of wine, champagne, and other alcoholic beverages.