Dow closes nearly 500 points lower Thursday as investors’ recession fears awaken
Dow closes nearly 500 points lower Thursday as investors’ recession fears awaken
www.cnbc.com
Dow closes nearly 500 points lower Thursday as investors’ recession fears awaken: Live updates
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 corporate media was portraying it. Who are you going to believe, CNBC or your lying eyes?
Dunno. The last 2 weeks posts on c/personalfinance are just return2ozma doomscrying an imminent recession. As near as I can remember, there's been people warning of imminent recession every day for the past 30 years. Occasionally, they're right.
? 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.