Economics
For Economy Skeptics, Stock Sell-Off Is ‘An Opportunity to Exit’
- A midmorning reversal shows the selling hasn’t been exhausted
- The S&P 500 is headed for a four-day decline approaching 6%
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It’s been a long time since anyone felt safe selling equities. Now, with panic-inducing headlines everywhere, investors who had been stockpiling reasons to bail are exiting positions with less fear of looking foolish.
At least, that’s how several money managers explained deepening losses Tuesday that sent the Dow Jones Industrial Average hurtling toward the brink of another 1,000-point tumble and total declines past 8%. Rather than buy dips, investors are selling into strength.