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Nasdaq falls 1.2% as the 'good news is bad news' mode hits
The Nasdaq Composite is down 1.2% and trading at the lows of the day. The selling acclerated after a strong US services survey from the Institute for Supply Management. Rather than cheering a resilient economy, the market is fretting about higher interest rates in a classic 'good news is bad news' response.The shift is consistent with market action last week as equities cheered bad news that hinted the Fed rate hiking cycle was over.The dynamic highlights the delicate balance in markets at the m...
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Posted: Sep 6 2023, 15:24
Author Name: forexlive
Views: 111564