Some thoughts on the recent market selloff
As I write these words, the Dow Jones Industrial Average is up nearly 400 points, about 1.85%. The Nasdaq is up even more. Does that mean the market rout is over? No. But, for me, it does suggest a lot of the downdraft was caused by automated selling, with algorithms amplifying volatility.
Nothing in the real economy suggests we are near a recession. It's not even clear the economy is slowing. Initial jobless claims, the weekly data set I watch, showed...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.