U.S. President Joe Biden does not look at the stock market as a way to judge the strength or weakness of the U.S. economy, White House press secretary Jen Psaki said on Monday, as markets plunged on fears of a Russian attack on Ukraine.

“Unlike his predecessor the president does not look at the stock market as a means by which to judge the economy,” Psaki said, adding the market was up 15% since Biden took office.