Friday, April 15, 2005

Bad day on the street

From the Chicago Tribune today:
Wall Street suffered its worst single day in nearly two years Friday, with the Dow Jones industrial average falling 191 points for its third straight triple-digit loss. Deepening concerns over economic growth and higher prices led to the worst week of trading since August.
Compared to this from less than two weeks ago:
"The upward thrust to the economy appears quite substantial and the risk of higher inflation over the next six months or so seems clearly greater than the risk that inflation will fall below a desirable range," said Federal Reserve Bank of St. Louis President William Poole.
It's just further proof of how fickle the markets can be and how little anyone really knows.

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