Explaining Mr. Market

Posted by David Boaz

A banner Washington Post headline (page 11, print edition; slightly different online) reads:

Stocks plunge as trade deficit widens

Of course, they could have gone with

Stocks plunge as Linda McMahon wins Senate nomination

Or my favorite:

Stocks plunge as Cardinals sweep Reds

Since national trade deficits are not much more meaningful than baseball scores, it’s unlikely that this month’s report drove stocks down.