White House Stresses Patience In Market Adjustments

11/24/2008 05:12 am ET | Updated May 25, 2011

The White House declined to comment on the steep decline in stock prices early Friday, but warned that it will take time for investors to digest the rapidly shifting economic and policy landscape.

"We don't comment on daily fluctuations in markets," White House spokesman Tony Fratto said. "At this time markets are trying to digest lots of new information -- both changing economic conditions, as well as official policy responses, and it will take time for conditions to settle," he said.

Following steep overnight losses in Asia, the Dow Jones Industrial Average fell more than 400 points in early trading as investors' recession fears deepened and traders cited forced selling by hedge funds.


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