Stock prices are sharply lower at midday on Wall Street.
Specifically, here’s the problem:
Investors were fixated on worrisome corporate earnings reports that are raising fears of a deep and painful recession.
If there’s one thing I’ve learned over the last several weeks, it’s that the Dow, NASDAQ, and S&P 500 are hardly a good source to measure economic health. While trading definitely plays a big role in the economy, the folks on Wall Street seem driven more by emotion than solid economic indicators most days.
Keep an eye on your bank, the government, and the unemployment rate. Don’t let the ridiculous fluctuations in trading screw with your head.
