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Markets Right Now: White House downplays market plunge

seattlepi.com
Markets Right Now: White House downplays market plunge

Caption Close NEW YORK (AP) — The latest on developments in financial markets (all times local): 6:15 p.m. The White House says there is no reason for concern after U.S. stocks suffered their worst loss in eight months Wednesday. As a five-day market slump raises concerns that the record bull market may be ending, press secretary Sarah Sanders says, "The fundamentals and future of the U.S. economy remain incredibly strong." The Dow Jones Industrial Average fell 831 points Wednesday and the Nasdaq composite, which has a high concentration of technology companies, had its biggest loss in more than two years. Sanders highlighted strong economic indicators, including low unemployment and rising wages,