February 6, 2018 / 3:51 PM / 8 months ago

Treasury's Mnuchin plays down concerns over stock market sell-off

WASHINGTON, Feb 6 (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Tuesday played down worries about investor concerns that have pushed stock markets lower and said the Trump administration was focused on long-term economic growth.

“The stock market is up significantly...since President Trump was elected. We’re monitoring the stock markets, they are functioning very well and we continue to believe in the long-term impact of the stock markets,” Mnuchin told lawmakers during a scheduled hearing before lawmakers on Capitol Hill.

World stock markets fell for a fourth day running on Tuesday as investors reacted nervously to the prospect of higher interest rates and stretched equity valuations. U.S. stocks were slightly lower in volatile trade.

“We are very focused on long term economic growth,” Mnuchin added.

Reporting by Lindsay Dunsmuir Editing by Chizu Nomiyama

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