There was a perverse view this year that bad economic news was actually good news for the stock market, as the heat coming off the economy would give the Federal Reserve the greenlight to cut interest rates. This made some sense with inflation for the first time in a while becoming the primary market bogeyman over a slowing economy.
But instead of rallying, the Dow Jones Industrial Average is diving . .DJI 1D mountain Dow, 1-day Stocks that have the most to lose in a recession led the way, with JPMorgan Chase and Caterpillar down. Even tech stocks found themselves in the red as they too, may be hurt more by a slowing economy, than their valuations are boosted by lower rates.
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