by Mike ‘Mish’ Shedlock
The Dow is down $1500 today, over 5.5%.
As I scan headlines, some articles blame the Fed’s recent statements, others a resurgence of Covid-19.
For example, Reuters reports “Dow slumps 5% on fears of spurt in virus infections, economic worries”
But if the Dow was going to dump $1500 on FOMC news, then it should have been yesterday on news Fed Projects 2020 Growth at -6.5%, Unemployment 9.3%.