White House says it’s ‘concerned’ about stock market drop

Yuri Gripas | Reuters

President Donald Trump meets with North Korean defectors in the Oval Office of the White House in Washington, U.S., February 2, 2018.

The White House said Monday it is worried about the U.S. stock market sell-off.

“We’re always concerned when the market loses any value, but we’re also confident in the economy’s fundamentals,” an official said in a statement to CNBC.

The Dow Jones industrial average briefly fell more than 300 points Monday morning and the S&P 500 traded about 0.75 percent lower, extending last week’s plunge.

President Donald Trump has touted the strong stock market performance since his election win and has yet to deal with a significant market pullback. The Dow is up more than 30 percent since the election.

— With reporting by CNBC’s Eamon Javers.