US Treasury Secretary Steven Mnuchin: no financial stability implications of stock moves

US Treasury Secretary Steven Mnuchin has been crossing the wires with his comments over the current market correction on Wall Street where investors panicked yesterday after the nonfarm payrolls data on Friday.

The benchmarks were extending their corrections - we had the largest move in terms of points in the DJIA in history. The DJIA was down some 1,500 points in the red at one stage and was closing around 1,175 points lower.

• Thinks market sell-off is a correction
• Lets congress decide how to raise debt ceiling
• No financial stability implications of stock moves
• Calls stock moves a ‘normal correction’, ‘though they are large