White House: Economy ‘strong’ despite stock market tumble

The White House said Monday the economy is “exceptionally strong” despite a more than 1,100-point drop in the stock market.

“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,” said White House press secretary Sarah Huckabee Sanders.

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

The stock market dove more than 4 percent on Monday, continuing last week’s sharp drops after more than a year of robust gains.