White House press secretary Jen Psaki on Friday offered a response to the U.S. stock market’s drop on Thursday, which was widely attributed to reports that the Biden administration was considering a hike in capital-gains taxes. “I’ve been doing this long enough not to comment on movements in the stock market, but I did see just data factually that it went back up this morning,” Psaki told reporters, following a question on the decline.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.