Stocks Stumble And Fall Due To High Unemployment Still…

Posted: June 23, 2011 in News, Opinion

The FED is still calling for a 2.7% growth so this is not a “recession” technically but who can trust anything coming out of Bernake’s mouth anyway.

“400,000 is the magic number and we’ve been above it for 11 weeks,” said Lawrence Creatura, who manages a stock portfolio at Federated Investors. “This is no longer looking like a small soft patch. It’s beginning to look more like quicksand.”

The Dow Jones industrial average lost 185 points, or 1.5 percent, to 11,925 in midday trading.

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