US President Donald Trump delivers remarks on his tax policy after a factory tour of the Sheffer Corporation in Blue Ash, Ohio, US Monday.
Weeks after the president claimed credit for "unprecedented success" with a "record stock market", the Dow Jones fell almost 1,600 points, erasing its gains for the year and marking the largest points plunge in the history, according to CNN Money.
"Does the President have second thoughts about taking credit for a booming economy?" The last biggest intraday point dive came on September 29, 2008, when the Dow fell 777 points.
Another White House official said the administration is "always concerned" when the market dips, but also noted that the USA economy is fundamentally strong.
After the speech Sarah Huckabee Sanders, the White House press secretary, said Trump is focused on "long-term economic fundamentals" and these are "exceptionally strong".More news: U.S. orders Wells Fargo to halt expansion over 'abuses'
"The president's tax cuts and regulatory reforms will further enhance the U.S. economy and continue to increase prosperity for the American people", said Sanders.
Gidley also claimed that while four major news networks "went wall to wall" covering the huge market drops on Monday, they never covered the steep increases over the past year.
"Now I understand that's big news, but where were they when it was going up?"
Trump boasted the rise of the stock market both on Twitter and in his recent State of the Union address.