Yes, there is a good chance that President Trump will destroy the American economy with his broad and largely unfathomable executive orders. He does not seem to be particularly concerned right now with the economy. He's making a lot of executive orders in what seems like an attempt to gain favor with his supporters and prove to everyone how tough he is.
While the stocks have corrected a little bit, this question ignores how much the stocks soared as soon as Trump was elected. It's okay that they corrected a little bit. Trump is going to make it so that businesses can get back to work and the economy can turn without burdensome regulations.
Mr. Trump's Executive Order on Friday will not destroy the economy. The economy, domestic and abroad, is not going to turn on the single Executive Order targeted at individuals from seven countries. Moreover, the Executive Order at issue is set to expire on its own terms in three months. If the economy cannot withstand that Executive Order it was doomed to fail anyway.
Regardless of President Trump's wide-reaching and seemingly reckless executive orders, the American economy has taken dips in the past. Our economy is largely affected by emotions, and as such, the market has a tendency to stabilize after the initial shock of a particular policy has sunk in. While people are in fear of the future, President Trump's policies are in no way a death sentence to the American economy.