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originally posted by: visitedbythem
I have to admit something....
The timing is a little strange.
originally posted by: dragonridr
originally posted by: silo13
originally posted by: richapau
a reply to: silo13
Your premise that the memo caused the drop is stupid. The market was EXTREMELY over priced and was long overdue for a correction. The memo had NOTHING to do with it.
Can you prove that?
And the 'stupid' was uncalled for unless you're afraid someone else's opinion other than yours might be valid.
You have it backwards the claim is being made the memo caused a drop. As such proof of that is required. The sell-off started because of the Friday jobs report. On Friday, the Labor Department put out its monthly report on how many jobs were created in January in the United States and how fast wages are growing. Overall, it looked like good news. The economy added 200,000 jobs, and wages grew by 2.9 percent, the most since 2009. But Wall Street looks at things differently than most people do. When companies pay workers more, it usually means lower profits for shareholders. So this caused sell offs of course as they moved money to bonds.
As far as proof the jobs report caused it simple it was released 30 min later sell offs started.
originally posted by: Dfairlite
No it doesnt. Literally all of that is wrong. It has to do with one thing, fear of instability.