Something behind market sell-off no one is talking about: Strong dollar
Stocks investors are spooked about a lot of things, and the strong dollar biting into earnings growth is now one of them.
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The strong dollar certainly hurts a lot of companies and negatively affects the numbers they report. This is only one issue. At present, I think the Fed easing is at the top of the list along with the tariffs and China's growth slowing following closely behind. There are a lot of headwinds out there for a market that ran a long way over the past 9 years.
My view is it was credit induced so it doesn't really matter. Once the easy money goes away, so will the "wealth effect".