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White House Plays Down Stock Market's Bad Day
07 February 2018, 01:15 | Bernice Figueroa
As stocks tanked the White House rushed spokesman Hogan Gidley on the air to calm panicked stockholders and 401 savers
Trump posted the tweet with a video of himself speaking at an OH manufacturing company, suggesting his policies had galvanised the United States economy. "And right now, for the first time in a long time.factories are coming back, everything's coming back".
With the Dow approaching a thousand-point plunge - the Dow was down a record 1,175 points at end of business today - CNN, MSNBC and, yes, Fox News all focused their attention on the massive sell-off going on in the stock market.
Donald Trump has been boasting of "record highs" across the stock market during his Presidency. "And un-American", Trump said about the Democrats.
One aide said it was jarring to watch the President's speech cut off by Fox News, which broke in when the drop hit the 1,000 point-mark.
The stock market dove more than 4 percent on Monday, continuing last week's sharp drops after more than a year of robust gains. "But the fundamentals of this economy are very strong".
Former White House chief strategist Steve Bannon won't appear before the House Intelligence Committee Tuesday, escalating a tense standoff with the panel. "The worst news for Democrats is that the market and the stock market is really not that important to mainstream America".
"When I signed the tax cut, six weeks ago, it set off a tidal wave of good news that continues to grow every single day".
WASHINGTON-President Donald Trump has maintained an uncharacteristic silence since the stock market took a nose dive, notable for a businessman president who regularly points to the rising market as evidence of the success of his presidency and economic policies.
News networks, many of which had been airing a Trump speech live from OH where the president had gone to promote the Republican tax reform plan, interrupted the programming to break the news.
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