A wave of anxiety rippled through financial markets today, with stocks falling as investors focused on signs of a slowing American economy.
Investors were spooked by a combination of factors, starting with the U.S. jobs report showing significantly slower hiring, followed by the Federal Reserve deciding to keep interest rates steady.
The fear was that the Fed might have waited too long to cut rates, potentially turning a soft landing into a more turbulent one.
During market turmoil, doing nothing may be the best option, advises Ron Lieber, the Your Money columnist at The Times.
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