Economics
Mnuchin Says U.S. Market ‘Correction’ Isn’t Surprising
- Treasury chief speaks on sidelines of IMF meeting in Bali
- U.S.-China trade war woes sparks stock market sell-off
This article is for subscribers only.
A day of tumult on Wall Street was just a correction and not a reflection of a wider systemic issue, U.S. Treasury Secretary Steven Mnuchin said.
“Markets are not efficient and markets move in both directions and at times they overshoot in both directions,” Mnuchin said early Thursday in an interview on the sidelines of the International Monetary Fund annual meetings in Bali, Indonesia.