4 ms·
I really hate financial headlines. The S&P is still up 3.08% this week. This headline makes today's 0.65% drop sound catastrophic.
by d23 4y ago
I really hate financial headlines. The S&P is still up 3.08% this week. This headline makes today's 0.65% drop sound catastrophic.
- ecf 4y agoWhy yes, because stories of tech layoffs and stocks buybacks were the focus earlier in the week. Now these same investors wake up to some news about low wage job growth and all of a sudden their sky is falling again and the market shrinks like a petulant child throwing a temper tantrum.
- hedora 4y agoIn related news, annualized GDP growth from the start of the pandemic to the end of the recession panic was about 6% (~2x of normal).
- dwaltrip 4y agoYeah… Now, 2 hours after open, the market is flat from yesterday. So much for sinking.
- abirch 4y agoWhat I hate about financial headlines is the ease of causational attribution. The same event can be used to explain two diametrically opposed outcomes.