The dollar fell sharply following the report and as the likelihood of an interest rate cut appeared to increase. Dollar-based assets would earn less interest if the Fed were to cut rates. In addition, gold prices rose sharply because some investors would be expected to abandon a weakening dollar and move into gold if the central bank cuts rates.
Friday, September 7, 2007
poor america
Stocks Plunge After Weak Jobs Report, by Tim Paradis, AP
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