Sure, you could blame the late-week market downturn on the economic uncertainty caused by the Fed's rate hikes. More likely, what's worrying investors is all the talk of yet another 50-point hike next month on top of the one announced Tuesday. On the other hand, maybe today's weakness had as much to do with rainy weather on the East Coast. Stocks go down. Buyers come in.
Stocks go up.
Sellers take profits. Stocks go down. Among major indexes, an exceptionally bad day topped off a meek weak. Oh, and by the way, ignore mindless chatter that the growing U.S. trade deficit will necessarily spark inflation. But though news of the widening gap threatens to hurt the proposed trade deal with China, the relationship between export gaps and price pressures is much more complicated.