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Stock market's decline after good economy news "a big mistake": Trump
Last Updated: 2018-02-08 08:53 | Xinhua
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U.S. President Donald Trump said on Wednesday that the recent stock market turmoil was a "big mistake."

"In the 'old days,' when good news was reported, the Stock Market would go up. Today, when good news is reported, the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!" Trump tweeted Wednesday morning.

It was the first time Trump talked about the market sell-off that started on Friday last week.

The Dow fell more than 1,700 points combined on Friday and Monday, and then rebounded with an over 550-point gain on Tuesday after a swinging back and forth between positive and negative territory rapidly for the whole session.

The U.S. Labor Department on Friday released an upbeat jobs report.

U.S. total nonfarm payroll employment increased by 200,000 in January, beating market consensus, and the unemployment rate stayed unchanged at 4.1 percent. Average hourly earnings posted a 0.3 percent gain for the month and an annualized gain of 2.9 percent.

The report was largely seen as the catalyst for the sell-off as investors feared an over-heating economy would push inflation higher and then prompt the Federal Reserve to raise interest rates in a faster pace.

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