Josh Brown gives warning after Trump's shocking bank comments: 'Do not trade this news'

Traders: Don't adjust portfolio based on Trump's big bank comments

Major averages, led by financial stocks, experienced a sudden drop on Monday after President Donald Trump said during an interview with Bloomberg News that he'd consider breaking up the nation's big banks.

In the immediate aftermath of the comments, Josh Brown pleaded with investors on CNBC's "Halftime Report" to ignore these words, despite the fact that they were coming from the president.

"Stop — please don't make changes to your portfolio based on things that get blurted out," said Brown, CEO of Ritholtz Wealth Management. "Do not trade this news."

@ReformedBroker: Literally I can't.

The overall market and bank shares would go on to recover those losses about 25 minutes later, seemingly heeding Brown's advice.

"You don't know what's really behind [this statement]," Short Hills Capital Partners founder Stephen Weiss added. "What I will tell you is this: it will take years to break up the big banks, so there's really nothing to worry about now."

Trump's controversial comments come on the same day that he met with leaders of the Independent Community Bankers of America, an advocacy group for small- and mid-market financial institutions.

Trump says he's considering breaking up big banks

Both Brown and Weiss agreed on CNBC that instead of fretting, investors should be buying up bank stocks on the dip — companies like Goldman Sachs, Citigroup and Bank of America.

Bank stocks had been one of the biggest winners of the so-called Trump trade, rallying after the president's victory in November. The sector climbed more than 25 percent in the immediate aftermath, but the bank ETF is down about 1.3 percent in 2017.

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— CNBC's Jeff Cox contributed to this report.

Correction: Trump met with leaders of the Independent Community Bankers of America. An earlier version misstated the group's name.