Mr Trump is under pressure following the revelation that ex-lawyer Michael Cohen paid porn star Stormy Daniels , who claims she slept with Mr Trump in 2006, $130,000 allegedly under his instructions just a few days before the 2016 presidential election.
And almost simultaneously, former campaign manager Paul Manafort was been convicted of five counts of tax fraud, as well as three other charges.
Mr Cohen is facing jail over five convictions related to campaign violations, bank fraud and tax evasion.
In his first interview since Mr Cohen implicated him in criminal activity, Mr Trump told Fox News: “I will tell you what, if I ever got impeached, I think the market would crash.
“I think everybody would be very poor, because without this thinking, you would see – you would see numbers that you wouldn’t believe in reverse.”
Mr Trump was quizzed about Mr Cohen’s sworn testimony that Mr Trump told him to pay off Daniels – real name Stephanie Clifford – and another woman, Karen McDougal.
Such a move which would represent a criminal breach of US campaign finance laws.
Pressed over whether he had issued the order, Mr Trump suggested Mr Cohen had acted independently, saying: “He made the deal. He made the deals.”
He then talked up the strength of the US economy before insisting the country would be worse off had opponent Hillary Clinton defeated him in 2016.
He said: “I don’t know how you can impeach somebody who has done a great job.”
Seeking to distance himself from Mr Cohen, he said: “I’m not involved, I haven’t been charged with anything”, before adding that “campaign violations are considered not a big deal, frankly” and claiming the ones which Mr Cohen had pleaded guilty to were “not a crime”.
He also said Mr Cohen should not have been allowed to strike a plea bargain with federal prosecutors, saying: “It’s called flipping and it almost ought to be illegal.”
During the course of his interview, Mr Trump also lashed out at his own Attorney General, Jeff Sessions, and the Justice Department as a whole.
Mr Sessions angered Mr Trump after recusing himself from overseeing the investigation into possible collusion between Russia and the Trump campaign being spearheaded by Robert Mueller.
Mr Trump said: “He took the job and then he said, ‘I’m going to recuse myself.’ I said, ‘What kind of a man is this?”
He also hinted that he was still considering the possibility of issuing a pardon.
Mr Trump also suggested he has not ruled out issuing Mr Manafort with a Presidential pardon.
He claimed that “every consultant, every lobbyist in Washington” was likely to be guilty of some of the charges laid against him.
Mr Cohen is also rumoured to be willing to cooperate with the ongoing Mueller investigation, meaning further revelations are possible.
It remains to be seen what impact the latest revelations will have on his Presidential approval rating, with Mr Trump facing a critical few months as the pivotal mid-term elections in November draw closer.