Dow closes nearly 500 points lower Thursday as investors’ recession fears awaken
Dow closes nearly 500 points lower Thursday as investors’ recession fears awaken
Stocks dropped Thursday as investors weighed the latest corporate earnings reports and economic data.
Pfft, 500 points is like 1.2%.
The reasoning here is that the Fed just gave out numbers, and the economy was weaker than people thought. This isn't a panic, just a slight correction. The Fed is planning to cut rates in September, which will probably have the opposite impact as today's news.
People have been crying recession, and the data just doesn't support it. We've had a phenomenal year in the market this year, this is just tempering that a little bit.
This has nothing to do with Personal Finance IMO.
the economy was weaker than people thought
The economy was weaker than corporate media was portraying it. Who are you going to believe, CNBC or your lying eyes?
? It's not that much weaker than expectations, hence the only 1.2% drop. That's a pretty modest pullback after such a big bull run.
Dow is now down 1,500 from Thursday open. The latest Job and Manufacturing reports have cemented a Sept fed cut of at least .25% and likely another two cuts before end of year. Good news if you are looking to buy a house and/or refinance a large purchase