US, World Markets Jittery

Wednesday, May 26, 2010

Traders work on the floor of the New York Stock Exchange on May 25, 2010 in New York City. After significant morning losses, the Dow Jones industrial average climbed most of the way back in trading. (Spencer Platt/Getty Images/Getty)

Stock markets around the world seemed jittery yesterday: The Dow Jones industrials dropped briefly below 10,000 before making up most of their loss. Since a recent high in April, the Dow has dropped nearly 12 percent. What does this number indicate about our economy? Is the market the end-all-be-all measurement of how our economy is doing?

Mark Zandi, co-founder and Chief economist of Moody's believes, "the most important economic indicator is jobs. If we’re creating jobs that’s a plus.  In recent months we’ve had job growth." We also hear from Simon Johnson, former chief economist of the International Monetary Fund, and a professor at the MIT Sloan School of Management. He takes a look at how the fledgling European markets are affecting our own.

Guests:

Simon Johnson and Mark Zandi

Produced by:

David J Fazekas

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