U.S. Markets

White House, after Wall St. drop, says Trump focused on 'economic fundamentals'

A television screen shows the day's losses on the floor of the New York Stock Exchange in New York, U.S., February 5, 2018. REUTERS/Brendan McDermid

WASHINGTON (Reuters) - The White House, following a steep drop in the stock market on Monday, said President Donald Trump was focused on “exceptionally strong” fundamentals in the U.S. economy.

“The President’s focus is on our long-term economic fundamentals, which remain exceptionally strong, with strengthening U.S. economic growth, historically low unemployment, and increasing wages for American workers,” White House spokeswoman Sarah Sanders said in a statement.

“The president’s tax cuts and regulatory reforms will further enhance the U.S. economy and continue to increase prosperity for the American people,” she said.

Reporting by Jeff Mason and Steve Holland; Editing by Leslie Adler