By Eric Martin
Dec. 11 (Bloomberg) -- U.S. stocks tumbled the most in a month as investors speculated the Federal Reserve's quarter-point interest-rate cut will fail to prevent a recession.
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Tuesday, December 11, 2007
U.S. Stocks Fall After Fed Cuts Benchmark Rate by Quarter Point
Stocks are supposed to go UP in response a rate cut. Good illustration of the world going topsy-turvey.
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As has been discussed for a few weeks, the market had already fully priced in a 0.5% reduction - the drop today was in response to them being wrong in their estimate of the Fed's actions.
"...as investors speculated the Federal Reserve's quarter-point interest-rate cut will fail to prevent a recession." Good grief. As if.
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