Word: rationales
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With a vengeance, as it turned out, but a rational and contained one that by 10:30 had ceased to be terrifying. Time to head uptown.
Tuesday?s attack on the twin flagstaffs of the free market was a catastrophe barely imaginable beforehand. For the most part, Monday?s reaction was a rational response - a sharp selloff in the very stocks that most folks expected.
Sometimes, rational can be bad for business, too.
What he cannot guarantee is what the trigger-pullers will do - and the investors, big and small, that stand behind them. Tuesday the talk was of a panic selloff, Wednesday of a patriot?s rally. By Thursday the markets had been closed for longer than anyone alive could remember, and...
Wall Street will resume trading Monday morning at 9:30, just like the week before this one. And there is a growing expectation for at least a rational response to the catastrophes, a selloff based on numbers and not naked fear - and even more likely a market taken patriotically under...