On the recent market selloff, tech earnings and privacy

Some thoughts on the recent market selloff
As I write these words, the Dow Jones Industrial Average is up nearly 400 points, about 1.85%. The Nasdaq is up even more. Does that mean the market rout is over? No. But, for me, it does suggest a lot of the downdraft was caused by automated selling, with algorithms amplifying volatility.

Nothing in the real economy suggests we are near a recession. It's not even clear the economy is slowing. Initial jobless claims, the weekly data set I watch, showed the 4-week moving average was 211,750, unchanged from the previous week's unrevised average of 211,750.

It is noteworthy, however, how much more different indices have lost than the US due to market jitters.

Equity ETFs, % Below 52-Week High...
China $MCHI: -32%
Africa $AFK: -26%
Emerging Markets...


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