Bob Pisani of CNBC reports today that is looks like September, 2007 is the make or break month for the financial markets.
After the Fed took a baby step last week by lowering the discount rate by 50 basis points, money managers are continuing their run for cover. According to The Wall Street Journal today, $50 billion was invested in treasury and government-only money-market funds August 15-17 while $21 billion was taken out of "prime" funds.
No matter if the stock market rebounds and the Dow Jones Industrials return to 14,000 or even go to 15,000. Come mid-September we'll see what the markets are now forecasting.
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