White House Press Secretary Robert Gibbs said Saturday the United States is monitoring situation in quake-stricken Chile, and is ready to provide assistance.

"We are closely monitoring the situation, including the potential for a tsunami. Our thoughts and prayers are with the people of Chile, and we stand ready to help in this hour of need," Gibbs told reporters.

A magnitude-8.8 earthquake struck the coast of Chile at dawn Saturday, and the U.S. state of Hawaii is bracing for a potentially damaging tsunami after the earthquake sent waves across the Pacific Ocean, threatening nearly every nation around it.