Wow. What a week in stocks...
Trump bluntly criticized the Fed's plans to raise rates. Meanwhile, the stock market made a violent pullback with two days of triple-digit drops in the Dow. Technology stocks, Energy sector stocks as well as Financials took the worst beating.
Mortgage rates jumped to a seven-year high and the Social Security Administration announced that SSI recipients will get a 2.8% increase in 2019.
October is a notorious month for stocks. The October effect has given us a slap in the face. Investors have enjoyed months upon months of gains. Asset allocation