The stock market hasn't closed in correction territory in two years. Kenny said that large investors probably led the rebound, picking up beaten-down stocks when the Dow entered correction territory. The stock market freakout of 2018 hit a crescendo on Monday when the Dow plunged a record 1,175 points. "When people view the stock market as an ATM machine, the market is going to fight back." "The stock market has been functioning very well, and we continue to believe in the long-term impact of the stock market," Mnuchin said before the House Financial Services Committee.

Source: CNN February 06, 2018 05:03 UTC