White House on Historic Dow Plunge: ‘President’s Focus Is On Our Long-Term Economic Fundamentals’
The Dow Jones had a historically bad day on Monday as it plunged 1,175 points, the largest one-day point drop in history. At one point, the Dow was down nearly 1,600 points while the president was delivering an economic speech at an Ohio manufacturing plant, causing all three major cable news networks to pull away from his address to cover the market sell-off.
After the end of the business day, White House Press Secretary Sarah Huckabee Sanders released a statement indicating that the president was more concerned about the long view than day-to-day fluctuations in the market.
Below is the statement, via ABC News:
— ABC News (@ABC) February 5, 2018
As you can see in the statement above, Sanders also made sure to highlight other strong economic factors like low unemployment and rising wages. Furthermore, she noted that the recently passed tax cuts should help the economy and American workers.
Since taking office, Trump has repeatedly boasted about stock market gains and gone so far as to take credit for them. He’s recently claimed that if Hillary Clinton were elected, the market would be way down.
[image via screengrab]
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