Upside's Down (Musical Tribute)
Yesterday I said...I'm told that China's stimulus is partly responsible for the more upbeat outlook today. Based on the overwhelming success (sarcasm) of our stimulus packages so far, I wouldn't exactly go holding my breath that China's economy will bounce back robustly. That could mean investors might soon be selling oil to buy gold again.They sold oil to buy gold today.
They sold stocks too. Then they sold some more stocks. They followed that up with a round of stock selling. They finished the trading day off by with yet another round of stock selling. Wow.
GLOBAL MARKETS-World stocks tumble on GM, economic fearsNEW YORK, March 5 (Reuters) - World stocks slid hard on Thursday, with U.S. shares tumbling more than 4 percent, as another spate of dire economic news and renewed worries about banks slammed markets and boosted the appeal of safe-haven assets.
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