Stocks Stumble Amidst Recovery Concerns
Despite the recent announcements trumpeting a 3.5 percent GDP increase and the creation (or preservation) of nearly 650,000 jobs, the value of Wall Street stocks took a bit of a fall today. The Dow and Nasdaq each suffered 2.5 percent losses while the S&P 500 slipped 2.8 percent.
Analysts chalk today's loss up to concern about the strength of the recent recovery. Despite the current bout of optimism—and the official "end" of the recession—there are concerns about whether this bubble may burst.
In spite of the optimistic numbers issued by the Obama Administration, there's still the unfortunate fact that we may be looking at a largely jobless recovery. And without happily employed workers willing to spend their hard-earned dollars, this moment of prosperity may not be able to sustain itself.