The Fed said that they might start tapering in coming months if there's better economic data, which is basically the same thing repeated over & over again
But investors panicked, focusing on the words "coming months" which might mean very soon, forgetting that "the Fed plans to start tapering only after strong evidence of restored health to the job market" as mentioned by Fed Chairman Ben Bernanke
(FOMC Meeting Minutes update is delayed until the market closed for a bigger picture of the stock market)
Stocks dropped from 1790 to 1777 & rebounded to close @ 1781.37
Watch S&P 500 @ 1780 & 1790 tomorrow
No comments:
Post a Comment