Here Comes the Bear Market
Government
The Dow and Nasdaq indexes both closed Friday in correction territory—a market dip of 10 percent from the last peak—and the S&P 500 wasn’t far behind . We’re now likely headed into a bear market, which is a dip of 20 percent. Probably we’d be there already if the market didn’t build into its calculations that President Donald Trump will reverse himself on Iran to prop up stock prices, a doctrine known as TACO (for “Trump Always Chickens Out”). Then there’s the more intangible cockroach index.
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