Obama briefed on global financial markets developments: White House

Reuters
U.S. President Barack Obama, flanked by guest observers including U.S. Representative Mike Simpson (R-ID) (L), delivers remarks before signing the Sawtooth National Recreation Area and Jerry Peak Wilderness Additions Act into law at his desk in the Oval Office at the White House in Washington August 7, 2015. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) - U.S. President Barack Obama has been briefed on developments in global financial markets, the White House said on Monday after world stock markets plunged. White House spokesman Josh Earnest said that the U.S. economy is strong and that U.S. officials continue to urge China to pursue financial reforms, including moving toward a more market-determined exchange rate for its currency. (Reporting by Roberta Rampton, Susan Heavey, Jeff Mason; Editing by Emily Stephenson)