With financial markets tumbling for the second straight day amid coronavirus fears and top U.S. health officials warning Americans to be prepared for the spread of the disease, Trump economic adviser Larry Kudlow insisted on Tuesday afternoon that the United States government has everything under control. “We have contained this,” Kudlow told CNBC. “I won’t say airtight, but pretty close to airtight. We have done a good job in the United States.”

Kudlow went on to say that while there will be “some stumbles” in the markets and the numbers look “a little iffy,” he doesn’t predict an “economic tragedy.” The Dow Jones dropped over 1,000 points on Monday and was down over 800 points at time of publication.

His comments come after federal health officials warned Americans to prepare for the spread of the deadly virus, which has sickened 80,000 people around the world. “Ultimately, we expect we will see community spread in this country,” Nancy Messonnier, a director with the CDC’s National Center for Immunization and Respiratory Diseases, said. “It’s not so much a question of if this will happen anymore, but rather more a question of exactly when this will happen and how many people in this country will have severe illness.”