Treasury Department Closely Watching Market Movements, White House Says

The Treasury Department is closely watching market movements, the White House said Friday, as the Dow Jones Industrial Average tumbled more than 400 points. "Market indices closed somewhat higher yesterday, and now they're down again today. Obviously these are market movements that are closely watched at the Treasury Department," White House spokesman Josh Earnest told reporters. He said the Treasury watches world financial markets and evaluates what kind of impact they could have on the broader U.S. economy.