(Smart Money) — The latest market stumble did little to improve the outlook for the rest of the summer. Now, market watchers predict a month of low trading volumes and little overall movement. Last week was another rough one for stocks. The Dow Jones Industrial Average dropped 3.3%, and the S&P 500 slid 3.8%. The Federal Reserve on Tuesday left interest rates unchanged and noted that “the pace of economic recovery is likely to be more modest in the near term than had been anticipated,” a polite way of acknowledging the current economic stall.
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