Steven Mnuchin, Treasury secretary, arrives at a hotel in Beijing, China, on Thursday, March 28, 2019.
Treasury Secretarysaid Friday that the current market sell-off will be short-lived and, as such, looks like a compelling investment opportunity for investors looking to buy equities at a discount.
"This is a short-term issue. It may be a couple of months but we're going to get through this and the economy will be stronger than ever," the secretary said from the White House. "I look back at people who bought stocks after the crash in 1987, people who bought stocks after the financial crisis. For long-term investors, this will be a great investment opportunity," he said.
"This is not like the financial crisis, where people don't know when this will end: We will get through this," Mnuchin added. "By the end of the year, I thin you can expect we're going to have a big rebound in economic activity." The Treasury Secretary's comments came just ahead of the market's open on Friday and on the heels of the worst day on Wall Street since 1987.for exclusive insights and analysis, and live business day programming from around the world.
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