Spokespeople for the Securities and Exchange Commission, the Commodity Futures Trading Commission and the Financial Industry Regulatory Authority -- the main U.S. market regulators -- didn’t immediately respond to e-mailed requests for comment on Mnuchin’s remarks.
SEC Chairman Jay Clayton said Monday that stock markets should continue to operate. Clayton said the current environment differs from previous market shocks, such as the 2008 credit crisis or the terrorist attacks of September 11, 2001, partly because of steps that have been taken to bolster the financial industry since then.
“I think our banks are in a much stronger position today than they were then,” Clayton said on CNBC. “This is a demand and supply shock,” he said, adding that he’s concerned businesses might not have access to all the credit they need.
Exchanges have largely held up amid surges in volume. That has helped most exchange operators’ stocks outperform the broader market amid the declines.
--With assistance from Lananh Nguyen, Matthew Leising and Ben Bain.
This article was provided by Bloomberg News.