Slides in corporate shares weren't just contained to the Dow. The tech-heavy NASDAQ index also traded sharply lower, closing at 7,422.05, down 315.97 points or 4.1 percent, and suffering its biggest loss in over two years. The S&P 500 closed at 2,785.68, down 94.66 points or 3.3 percent.
“The fundamentals and future of the U.S. economy remain incredibly strong," White House spokesperson Sarah Sanders said in a statement. "Unemployment is at a 50-year low, taxes for families and businesses have been cut, regulations and red tape have been slashed, paychecks are getting fatter, consumer and small business confidence are setting records, and farmers, ranchers and manufacturers are empowered by better trade deals. President Trump’s economic policies are the reasons for these historic successes and they have created a solid base for continued growth.”
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