" in the first quarter of 2021. They also downgraded their first-quarter GDP outlook to a contraction of 1%, making them the first Wall Street economists to forecast negative GDP for the start of next year.
"The market can see there's light at the end of the tunnel," said Aaron Clark, portfolio manager at GW&K Investment Management. "On the other side of that are spiking cases and the shutdown measures needed to keep that in check. That's what the market's wrestling with." "Mnuchin's move will tighten financial conditions and removes a safety net for markets at the wrong moment," Krishna Guha, Evercore ISI vice chairman and head of global policy and central bank strategy, said in a note on Thursday.
Everyone loses in this political game that Trump and the Republicans are playing.
Breather, Pause, Water Break, Intermission, Time-Out, Power Nap, Coffee Break. Just wondering which or all will CNBC use to explain the market drop today? I'd go with complete denial as per usual.
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