The media is just as confused, they are saying fears about inflation, but they wont say the ten year is not pricing in another rate hike, boy that fed chairman sure has himself in a box. Look at fed funds futures for July. Come on media dopes get another excuse.
Exactly. I call these "Feel good news", they have nothing to do with economy or business. Saddam was captured on Saturday evening, the Dow opened on Monday like 60+ and started to sell from there, ending in -150 or so....
Market down because the estate tax repeal was blocked in the Senate. But that's really just the excuse. The market was already dropping. "Most of the time when markets move, no one has any idea why. A man who can tell a good story can make a good living as a broker." Liar's Poker by Michael Lewis
There is no meltdown and there will be no meltdown There has been a cumulative fall since May 10 .. so what. And looking at the US & world economy things are alright. Successive market days, rich in movement, are hay days for traders.
This decline has been steep enough and fast enough to induce margin selling for sure. This is good a nice cleansing.