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S&P 500 erases 2018's gains; US govt plays down Wall St sell-off concerns

Trump said: The stock market has smashed one record after another, gaining $8 trillion and more in value in just this short period of time


After US stocks plummeted on Monday, the White House sought to play down concerns, saying President Donald Trump was focused on "exceptionally strong" underlying fundamentals in the economy. White House spokeswoman Sarah Sanders said the economy was experiencing "strengthening US economic growth, historically low unemployment, and increasing wages for American workers." But Trump himself did not comment on the market, even as share prices sold off dramatically while he was touting the economy and last year's tax cuts in a speech in Ohio. That was a ...

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First Published: Tue, February 06 2018. 08:10 IST