Markets punish stocks
Jerome Powell
MarketWatch magazine is calling the Christmas sell-off in stocks the worst December since 1931. Markets are all down again and hitting new lows in New York and Toronto Thursday. Some disagree with the depression analagy but the pugnacious attitude of US Fed Chairman Jerome Powell seemed to make him an intentional Christmas spoiler. Having raised interest rates in opposition to nearly everyone, Mr. Powell then told reporters there will be more to come in the New Year. Get used to it. What fun as investors see their assets shrinking smaller and smaller. MarketWatch
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