White House: Stock market plunge is not as 'meaningful' as business activity

The White House downplayed the recent stock market sell-off, attributing it to “animal spirits” rather than economic fundamentals, despite concerns over tariffs and federal layoffs. President Trump’s trade policies and mass firings have contributed to investor uncertainty, leading to significant market losses. Experts suggest a shift from optimism to caution, with the Dow falling nearly 900 points and the Nasdaq experiencing its worst session since 2022, signaling a prolonged downturn.

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