What’s so bad about an economy growing better than 2 percent a quarter to warrant the biggest stock selloff since 2011? It’s a question that interests Savita Subramanian of Bank of America and Jonathan Golub of RBC Capital Markets.
U.S. stocks this week joined foundering currencies and equities around the world as the Standard & Poor’s 500 Index tumbled 5.8 percent and the Dow Jones Industrial Average entered a correction. Until now, U.S. stocks had been a pool of tranquility amid a slowdown in China, oil’s 60 percent plunge and geopolitical wrangling in Europe.
