If you are looking for a good excuse for the stock market to be acting ugly, the most obvious one would be the bond market and interest rates. |
People have been worried for the last several quarters that earnings were going to slow down. If in fact they don't slow down and if it looks as if there's no resumption of inflation ... it'll be interesting to see how people respond to that. |
We've known it's been coming for quite a while. It's really kind of a sad day. |
When the home re-sale numbers came out stronger than expected, it gave people the excuse of saying the Federal Reserve will continue to be more aggressive rather than less aggressive so let's sell the stocks. |