This Is Corrective Action, Not Bear Market Action

·1 min read

Comments by Larry Kudlow that a fiscal stimulus deal was unlikely to occur soon triggered another round of selling that has dropped the major indices over 2%, with the DJIA leading to the downside with a decline of 2.5%. The hope for a deal had helped to delay more cautious positioning into the election but now there is no reason not to move aside and wait for the smoke to clear.