No, Bad News Isn’t Good News for Stocks

Stock markets appear to have gone back to the dictum that “bad news for the economy is good news for asset prices.” While this may have worked in the post-2008 era, bad news today would probably just be bad.

After rallying last week due to official data showing a massive, unexpected drop in work vacancies, the S&P 500 has fallen into a tailspin in the past few trading days, as other figures showed bumper employment growth in September.