The Weekly Snapshot of the Market:
Blue chip equities rose on Thursday and Friday, yet they registered their first weekly loss in a month. The selloff was basically attributed to a cacophony of over-transparent banter by talking heads at the Fed about the continued prospects of tighter financial conditions. When the Fed speaks loud, concerns understandably flare up. As soon as these 12 regional Fed Presidents and the bigwigs at the main office finished speaking, the markets reacted as if the world had just changed. The S&P 500 fell 57 points or 1.3% to 4489.
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By Hubert Marleau
By Hubert Marleau
