A television screen shows the day's losses on the floor of the New York Stock Exchange in New York, U.S., February 5, 2018. REUTERS/Brendan McDermid

WASHINGTON (Reuters) - The White House, following a steep drop in the stock market on Monday, said President Donald Trump was focused on “exceptionally strong” fundamentals in the U.S. economy.

“The President’s focus is on our long-term economic fundamentals, which remain exceptionally strong, with strengthening U.S. economic growth, historically low unemployment, and increasing wages for American workers,” White House spokeswoman Sarah Sanders said in a statement.

“The president’s tax cuts and regulatory reforms will further enhance the U.S. economy and continue to increase prosperity for the American people,” she said.