Inflation worriers and treasury bears take note: Bond yields are falling again. Economy is not as strong as it looks.
The headline GDP was 3.5% but the headline number looks much stronger than it really is. A huge inventory adjustment contributing 2.07 percentage points to the headline number. Government spending was also on the high side, contributing 0.56 percentage points.
The Wall Street Journal reports Tech Worries Slam Stocks.
A powerful slump in technology and internet stocks spread Friday, putting the S&P 500 in danger of joining the Nasdaq Composite in correction territory as investors continued an October retreat from risky assets.