There’s your qoute of the day, right up there in the headline for this post. He’s talking about a horrible report from the services sector of the U. S. economy…
If you’re wondering why the market is tanking again, this is it. “(Bloomberg) — U.S. service industries unexpectedly shrank in January at the fastest pace since the last recession as the housing slump deepened and consumer spending cooled. The Institute for Supply Management’s non-manufacturing index, which reflects almost 90 percent of the economy, fell to [...]
Wall Street wasn’t happy, either.
Dow Jones plunges more than 350 points.
Stocks tanked this afternoon “after a report showing a big slowdown in the services sector of the economy amplified fears that a recession is underway or imminent.” The report “showed business activity falling in January for the first time in five years.” The Dow Jones’s drop of more than 350 points marks the “worst loss [...]
Tags: Economy
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