White House says watching Greek crisis and impact

WASHINGTON May 6 (Reuters) - The Obama administration is keeping a close eye on the debt crisis in Greece and its global impact, a White House official said on Thursday.

"The president has heard regularly from his economic team," White House spokesman Robert Gibbs said, adding that Obama's aides had been in frequent contact with their European counterparts.

"Treasury is monitoring the situation closely," Gibbs said.

The Dow Jones industrial average was down more than 3.5 percent in mid-afternoon in reaction to mounting concerns over the Greek crisis.

(Reporting by Care Bohan and Ross Colvin; Editing by Vicki Allen)