Stock Markets Tumble after Fed’s Fisher Reiterates Economic Weakness @ Forex Factory

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Stock Markets Tumble after Fed’s Fisher Reiterates Economic Weakness

U.S. equity markets tumbled shortly after the opening after Dallas Fed President Fisher reiterated that the economy was weak. In an early morning speech Fisher said that growth from the first quarter on is “likely to fall below 3 percent for a prolonged period.” This comment didn’t sit well with investors who used it as an excuse to shed risky stock positions ahead of Friday’s well-anticipated Gross Domestic Product report. Full Story

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Submitted Jul 29, 2010 9:05pm

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