Trump surrogate blames market turmoil on Democrats: 'They are hellbent on impeaching this president'
Steve Cortes appears on CNN (screen grab)

Former Trump adviser Steve Cortes on Wednesday said that Democrats "hellbent" on impeaching President Donald Trump are responsible for recent declines in the stock market.

During an interview on CNN, host Dana Bash suggested that Trump's Twitter attack on Federal Reserve Chairman Jay Powell is "helping to shake the markets."

"I don't think that was helpful," Cortes agreed. "For sure it was not helpful that the Fed raised rates and I think that was part what [caused] the market turmoil."

Cortes continued by blaming Democrats: "But the market really began in early October, well before this recent rate rise. I believe, personally, that the main reason that the markets are so volatile right now is because at that point in early October it became pretty obvious I think to capital markets that the Democrats were going to win the House."

"And the Democrats are hellbent -- and I've said this from day one and a lot of people don't believe me but I still stick by it -- they are hellbent on impeaching this president," Cortes added. "And that has introduced political risk into the United States."

Cortes said that it was "not Trump's tweets" that roiled the market this week, "it's much more the fact that the Democratic House is intent on at best an investigatory circus of this president. And at worst, an actual impeachment of this president."

Watch the video below from CNN.