Trump comes out firing in press conference, says team working like 'fine-tuned machine'

Embattled US President Donald Trump went on the offensive on Thursday against the media in a boisterous return to his election campaign rhetoric, describing his administration as a "fine-tuned machine".

Trump has faced criticism during his first month in office for a variety of issues, including his cabinet nominees, a botched immigrant travel ban and constant speculation surrounding his team's relationship with Russia.

He dismissed reports that the administration was in the midst of chaos, just days after the resignation of national security adviser Michael Flynn, and the withdrawal of Andrew Puzder's nomination as labour secretary.

"I turn on the TV, open the newspapers and I see stories of chaos, chaos," Trump scolded reporters. "Yet it is the exact opposite. This administration is running like a fine-tuned machine, despite the fact that I can’t get my cabinet approved."

Trump also categorically denied he or any of his team had any relationship with the Kremlin.

"Nobody that I know of. How many times do I have to answer this question? Russia is a ruse. I have nothing to do with Russia. Haven't made a phone call to Russia in years," Trump said.

"I own nothing in Russia, I have no loans in Russia, I don't have any deals in Russia," Trump said. "Russia is fake news."

In an extraordinary barrage of attacks on the media, Trump slammed the coverage of the first month of his presidency, and repeatedly interrupted and silenced reporters as they attempted to ask questions.

"The press has become so dishonest that if we don't talk about it we are doing a tremendous disservice to the American people...the press honestly is out of control."

MARKET REACTION

US stock markets' run to record highs in the last week was halted on Thursday, albeit with only very moderate losses across the main indices.

"Mr Trump applauded himself in a tweet yesterday by mentioning that the run in the stock market was mainly due to investor confidence which comes on the back of his upcoming tax plan," said Naeem Aslam, chief market analyst at Think Markets.

"Of course, the question is how long can you chew on this, and if your words are not backed up with action, you run a massive risk of disappointment."