Why did the market sell off Wednesday afternoon? Was it really the comments of former Fed chief Alan Greenspan? Or was it that folks preferred to watch JPMorgan Chase (JPM) CEO Jamie Dimon testify before Congress?
As I watched these on television Wednesday, I was reminded how the market would rally whenever President Clinton would speak during his administration. Then, during the Bush years -- and now, for Obama's presidency -- the market seems to decline each time the president appears on the screen. It had a bit of that feel on Wednesday, as if the market liked seeing Mr. Dimon discuss JPMorgan's fiasco with Congress. As soon as he was done with his testimony, the market headed downward....460 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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