The Veridian Blog

Stocks took a nosedive on Friday after an awful report on the jobs market renewed fears of another recession.  While the unemployment rate held steady at 9.1 percent, the Labor Department reported that no new jobs were created in August.  That made for the worst report in 11 months.  Add to that Consumer Confidence plunging to a 2-year low and Treasury prices jumped.  Yields fell to an eye-popping 1.996% at one point, while the major equity indices fell over 2%.   Global selloffs occurred in Europe and Asia over the long weekend as the US markets are bracing for another round of selling.