President Trump predicted Wednesday that Americans will lose "a lot of money" in the stock market if Republicans lose control of Congress to the Democrats.

"The end result is we have an economy that is the hottest economy right now in the world, and I guess the stock market is getting up close to 50 percent since the election," Trump said in a White House discussion on the economy. "I will say this, they are waiting for the results of the midterms."

"And if the midterms for some reason don't do so well for Republicans, I think you are going to lose a lot of money. I hate to say that. I think you are going to lose a lot of money," he said.

Trump also predicted that if Republicans win on Election Day, the economy and the market will continue to make gains.

"If it comes out good, like with think it probably will ... I think the market is going to continue to go through a period like we've never seen before," Trump said.

Stocks have made impressive gains since Trump defeated Hillary Clinton in 2016. The S&P 500 index has gained in excess of 23 percent, the NASDAQ has gained roughly 36 percent, and the Dow Jones Industrial Average is up around 33 percent.

October was one of the more tumultuous months for the market since the president took office. The Dow took fell nearly 8 percent in October, nearing its largest one-month loss since October 2010. The S&P and NASDAQ are down on the month by 8.6 percent and 10.0 percent, respectively.

Conventional wisdom and polling has Democrats taking control of the House in November, but Republican candidates and strategists are looking at local polls that show many races are still within the margin of error. For Republicans to maintain control of the House, they will need many of those races to sway in their favor. The party currently holds a 23-seat majority in the House.

Correction: An earlier version of this article did not include updated numbers on the percentage drops for the NASDAQ and the Standard and Poor's 500. The Washington Examiner regrets the error.