Good morning contrarians! It is Thursday, September 1.
Stocks sold off yet again yesterday, dropping for the fourth straight day. Cleveland Fed President Loretta Mester said there wouldn’t be any interest rate cuts until 2024 at the earliest. Investors didn’t like that and the S&P 500 dropped by 0.8% on the day. The Nasdaq fared a little better, down 0.6%. Major U.S. indexes closed the month of August down more than 4%.
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