As stocks tumble, White House says Biden 'does not look at the stock market as a means by which to judge the economy'

Published: Jan. 24, 2022 at 1:59 p.m. ET

White House press secretary Jen Psaki played down the sharp drop on Monday by U.S. stocks SPX, -2.55% when asked about the Dow Jones Industrial Average’s DJIA, -2.27% big fall. “We focus on the trends in the economy, not any one day and any single indicator,” Psaki told reporters during a briefing. “Unlike his predecessor, the president does not look at the stock market as a means by which to judge the economy.” She also said the equity market has gained around 15% since Biden took office.