Stock Market
Stock Market Live Updates: Global Selloff Intensifies as Asia Rout Deepens
The wagers on the possibility of an emergency rate cut have pared back as the day has gone on, but it remains one of the major topics of discussion.
Bloomberg Opinion’s writer Marcus Ashworth warns against it. The Fed cutting rates now, after passing up the opportunity last week, Ashworth says, would not only be “highly unlikely,” but also “counterproductive.” The downturn in stocks is “a market positioning unwind, not a response to an economic shock.”
“There’s nothing broken in the US economy. So there’s no justification for the monetary authorities to step in and mitigate losses for over-extended equity holders.”
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