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Technology Stocks : Intel Corporation (INTC)
INTC 36.82+1.5%Dec 19 9:30 AM EST
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To: Dan3 who wrote (136360)5/30/2001 1:30:06 PM
From: dale_laroy  Read Replies (2) of 186894
 
>Something has spooked the credit markets and spooked them badly. I think it was the tax cut, maybe it was something else.<

It was almost certainly the tax cut. With the bulk of the tax cut going to the rich, the big money is well aware that the prospects for an economic recovery are dim. And without an economic recovery, we could be headed for renewed deficit spending, probably leading to an increase in taxes on the lower economic brackets further deepening the recession.
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