Mnuchin, Fed officials downplay risks of stock rout as sell-off spreads
The US Treasury Secretary calls it a "correction", and that the economy is still strong
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Washington
GLOBAL finance chiefs played down the economic risks posed by the biggest US stock sell-off since February, with many describing the decline as a long-awaited correction.
"The fundamentals of the US economy continue to be extremely strong, I think that's why the stock market has performed as well as it has," US Treasury Secretary Steven Mnuchin told Bloomberg News at the IMF's annual meeting in Bali, Indonesia.
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