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US economy fundamentally strong despite stock market plunge

Source: abcnews.go.com - Feb 6, 2018

A wave of fear about inflation and higher interest rates has sent stock prices tumbling and raised concerns about corporate profits. On Monday, a plunge of over 1,100 points in the Dow Jones industrial average capped two days of losses that have erased the stock market's gains for the year.

Yet the rush of anxiety has obscured a fundamental fact about the U.S. economy: It's healthy.

Nearly nine years into the expansion that followed the Great Recession, the job market is strong. So is housing. Consumer confidence is solid, and manufacturing is rebounding. Households and businesses are spending freely. Personal debt has lightened since the financial crisis a decade ago. And major economies around the world are growing in tandem.

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Category: General Business