Stocks Dropped 2.6% On Friday, As Reality Gap Seemed To Widen

Published Friday, August 23, 2019 at: 7:00 AM EDT

Stocks plunged on Friday, despite Thursday's rise in the U.S. Leading Economic Indicators Index, as the gap between reality and perception of financial economic conditions grew more difficult to discern. Friday's 2.6% plunge in stocks occurred after Thursday's report that the U.S. Leading Economic Indicators Index increased one-half of 1% in July to 112.2, following the one-half of 1% ticks down in May and June. Housing permits, unemployment insurance claims, and stock prices drove the improvement in July."The manufacturing sector continues exhibiting signs of weakness and the yield spread was negative for a second consecutive month," said Ataman Ozyildirim, director...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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