Ruining The Fun

Ruining The Fun

Richard Clarida probably wasn't trying to ruin anyone's fun on Wednesday, and on any rational interpretation, he didn't. US equities were fine. Sometimes, it feels like market participants need to be reminded that daily moves on the benchmarks should be quoted in percentage terms, not in points. You laugh. And I laugh. But we do forget that -- if only for a fraction of a second. I don't care how long you've been in this business: If the Dow falls 323 points, you instinctually do a double take.
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4 thoughts on “Ruining The Fun

  1. Maybe it’s just me, but I find it sad that the Dow has inflated so far that a 300 point selloff is meaningless now. It really brings home how little value the dollar has now. And I keep asking myself if this is a temporary bubble or a longer term trend. The farther we go, the more permanent it seems to have become.

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