Interest rate increases have been in the back of the news cycle for weeks to months...Yellen just confirmed many of the fears, so the market reacted to the build up after she left today.
I heard they are blaming it on rising wages which is a good thing since many won't need to depend on welfare food so much and can actually buy stuff which should be a good sign but investors are kind of dumb when looking at numbers and not real world reactions to rising wages. Hell wages rising by a dollar is a great thing when it's not mandated but voluntary but try to tell millionaire/billionaires that, like talking to a wall.
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fusir ago
No. It's a result of increased interest rates. The fact that people politisize one of the worst economic indicators is the real problem.
The only advantage stock has is that it gives the news something to report on once a day.
Sharipie ago
No way an interest rate change would cause that kind of drop. This is a manipulation intended to cripple Trump and to blame him.
Samsquamch ago
Interest rate increases have been in the back of the news cycle for weeks to months...Yellen just confirmed many of the fears, so the market reacted to the build up after she left today.
Sharipie ago
I have a degree in Econ so I'm aware that markets react to fears of something. I don't think this degree of a fall can all be attributed to that.
shawnfromnh69 ago
I heard they are blaming it on rising wages which is a good thing since many won't need to depend on welfare food so much and can actually buy stuff which should be a good sign but investors are kind of dumb when looking at numbers and not real world reactions to rising wages. Hell wages rising by a dollar is a great thing when it's not mandated but voluntary but try to tell millionaire/billionaires that, like talking to a wall.