Yesterday Brought to You By the Irrational Herd
Yesterday at 3 p.m., these were the top headlines running on Bloomberg's news service:
· Stocks in U.S. Drop Most Since 2003.
· Treasury Yields Decline to Lowest Since December.
· Orders for Durable Goods in U.S. Tumble 7.8 Percent.
· Freddie Mac Will Tighten Standards on Its Purchases of Subprime Mortgages.
· Yen Advances as Investors Unwind Bets on a Drop in the Japanese Currency.