U.S. President Donald Trump is issuing a warning for Americans and their pocketbooks as midterm elections south of the border loom, saying the stock market will take a hit if Republicans lose.

“If the midterms for some reason don’t do so well for Republicans, I think you’re all going to lose a lot of money,” Trump said at an event at the White House Wednesday, expressing optimism that the results would play out in the Republican Party’s favour.

“I hate to say that,” Trump said.

“If it comes out good, I think the market’s going to continue to go through a period like we’ve never seen before.”  

Trump’s comments came at the end of a tumultuous month for U.S. markets, which the president said were taking “a little pause” in a tweet earlier this week as investors awaited the results of Tuesday’s midterm elections.

Despite the recent declines seen on major U.S. indices, Trump touted the stock market’s overall performace since he was elected in 2016, and said the U.S. had “the hottest economy right now in the world.”