Donald Trump has been warned the “countdown” to impeachment is underway, after his former lawyer implicated the president in crimes committed during the 2016 election.

On Thursday, Mr Trump publicly addressed the prospect of impeachment for the first time, claiming the market would “crash” if his presidency was threatened.

“I don't know how you can impeach somebody who has done a great job,” 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’s comments came after Michael Cohen, his long-time legal “fixer”, pleaded guilty to eight criminal charges, including two counts of campaign finance violations, which he said he committed at the direction of the president.

Cohen admitted paying hush money to adult film actress Stormy Daniels and former Playboy model Karen McDougal, both alleged to have had extramarital affairs with Mr Trump. (UK Independent)