White House says monitoring U.S. financial markets

WASHINGTON, Feb 27 (Reuters) The White House said on Tuesday it was monitoring movements in the financial markets, after a sharp decine in major stock markets.

White House spokesman Tony Fratto declined to comment on whether any discussions were planned with the president's financial working group.

''We're always keeping an eye on movements in the market,'' Fratto told Reuters when asked about the share sell-off. ''The president's economic advisers do that on a daily basis.'' The Dow Jones industrial average fell more than 500 points in mid-afternoon as China's equity market sell-off fanned concerns about equity valuations there and some data indicated US economic growth may slow.

REUTERS SBA RN0206