W. House concerned about markets after bailout vote

WASHINGTON (Reuters) - The White House on Monday said it was "very concerned" about the financial markets, which were in turmoil after the House of Representatives rejected a $700 billion rescue plan for the U.S. financial system.

"We thought there would be enough support for this legislation on the Hill, we're very concerned about the markets," U.S. President George W. Bush's spokesman Tony Fratto said on CNN.

He added that the White House wanted to hear from Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke.

Asked about the markets plunging after the vote, Fratto said: "We never wish to see a decline in the markets. It's not something that we would want to see now. I don't know if people should use it as a scorecard."

(Reporting by Jeremy Pelofsky and Matt Spetalnick, Editing by Chizu Nomiyama)