Background is very positive for stock market: Kudlow of US market drop

White House economic adviser Larry Kudlow on Sunday played down the U.S. stock market drop as a normal correction and said President Donald Trump had some concern the Federal Reserve may be raising interest rates too fast but respected its independence.

"I think the background is very positive for the stock market and I think, as I said, corrections come and go and people should ... stay very calm over these things, they are quite normal," Kudlow told the "Fox News Sunday with Chris Wallace" program, adding that Trump and Chinese President Xi Jinping will likely meet at Argentina's G20 summit in November.