Stock Market May Have Bigger Worries Than Fed Policy

by Rick Ackerman

Trying to account for two days of hard selling in U.S. markets since Friday, I’ve focused mainly on the trivial: the Fed’s increasingly embarrassing failure to manage our expectations, the dismal trend in U.S. corporate earnings, the election campaign from hell and sundry other factors that have arguably had little impact on the bull market.

But if the bull is in its death throes and complacency is about to give birth to panic, there might be another reason for it: an outbreak of geopolitical mayhem that has been threatening to inundate the world for so long that investors long ago ceased losing sleep over it.

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