Market recap: Buy-the-dip remains the overriding psychology of this momentum market, as stocks...

|By:, SA News Editor
Market recap: Buy-the-dip remains the overriding psychology of this momentum market, as stocks mostly overcame a morning swoon fed by fears the Fed would take away the punchbowl, plus the Nikkei's 7.3% plunge and weak manufacturing data from China. Once positive economic news came in (I, II) and the Fed's Williams and Bullard offered dovish remarks, investors decided to buy instead of run for cover. The dollar dropped as the yen soared, while gold jumped 1.8%.