U.S. stocks opened the month of September lower Tuesday amid growing uncertainty about the global recovery. Investors worry that the Federal Reserve’s promised taper will burst the stock market bubble.
But, as usual, investors are overreacting.
After all, the Fed is less likely to taper if the jobs market is as bad as the Labor Department reported on Friday with just 235,000 jobs being created instead of the expected 720,000.The Fed has repeatedly made it quite clear how much it was seeking direction from employment data — and Friday’s jobs report couldn’t have been more clear. If anything, investors would be […]
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