White House says U.S. economic fundamentals strong

WASHINGTON (Reuters) - The White House said on Wednesday the U.S. economy is fundamentally strong a day after stock markets around the world took a plunge.

White House spokesman Tony Snow would not comment on volatility in the markets, saying "it's a very dangerous thing to do."

But he said based on a reading of public opinion polls that "American public confidence continues to grow in the U.S. economy."

He added: "The fundamentals are very strong."

He noted that markets in China, where the stock market rout began on Tuesday, appeared to have rebounded on Wednesday.

Asked what advice President George W. Bush has for investors, Snow replied: "The president does not give advice to investors in the stock market."

Bush was briefed on Tuesday by Treasury Secretary Henry Paulson on the market drop. Snow said Bush asked Paulson, "'What do you think's going on,'" but would not describe the conversation further.