The Dow Jones Industrial Average dropped by 512 points Thursday, erasing this year’s market gains, but the White House had little to say besides “markets go up and down.”

“I don’t have a specific reaction to the market. Markets go up and down,” White House press secretary Jay Carney said.

But the stock market also did something it hasn’t done in more than 33 years: decline for nine straight sessions. Today’s drop is the worst since Feb. 22, 1978, when Jimmy Carter was president.

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