by Bill Bonner, Daily Reckoning.com.au:
We expected the summer trading to drag on…and then the markets to set off on their new trends after 1 September: Stocks down. Bonds down. Gold up.
The New York Times reports:
‘The stock market was pummeled on Thursday after two big companies issued grim sales forecasts and economic data added to investors’ concerns that the Federal Reserve would soon start winding down its economic stimulus program.
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