Stocks snap winning streak | Something scary a year from now? | The passing of a legend

MON, DEC 09, 2019

EVENING BRIEF

AS OF MON, DEC 09, 2019 • 04:03 ET

DJIA		27909.60
		-0.38%	-105.46

S&P 500		3135.97
		-0.32%	-9.94

NASDAQ		8621.83
		-0.40%	-34.70

Most Active

DOW
NAME	LAST	CHG	%CHG
AAPL	266.92	-3.79	-1.40%
CSCO	43.90	+0.06	+0.14%
MSFT	151.36	-0.39	-0.26%

S&P 500
NAME	LAST	CHG	%CHG
M	15.48	+0.33	+2.18%
AAPL	266.92	-3.79	-1.40%
FCX	12.10	+0.46	+3.95%

NASDAQ
NAME	LAST	CHG	%CHG
AAPL	266.92	-3.79	-1.40%
AMD	38.93	-0.70	-1.77%
CMCSA	43.89	-0.35	-0.79%

EDITOR'S NOTE

Sometimes, the medicine can be deadlier than the disease, but sometimes the doctor prescribes it anyway.

Paul Volcker, former Federal Reserve chairman under Presidents Jimmy Carter and Ronald Reagan, treated runaway inflation with interest rates that topped 20%. Critics said he was killing the economy, but in time he destroyed a metastasizing threat we've never had to endure again. He died a legend on Sunday at the age of 92.

"Volcker believed not just in the power of markets, but in the corresponding power of the government's duty to make sure that those markets work for everyone," said former President Barack Obama, who relied on Volcker for guidance in the aftermath of the 2008 financial crisis.

Killing inflation almost killed the housing market. CNBC's Patti Domm writes about a time when "people thought they'd never buy a home again."

Former Fed Chairman Alan Greenspan on Monday called Volcker "the most effective chairman in the history of the Federal Reserve."

Stocks were down slightly on a day that offered little in the way of market-moving financial or economic news.

All eyes on are progress of the U.S.-China trade deal. CNBC's Jim Cramer says investors aren't prepared for the possibility that President Donald Trump walks away from an agreement after China announced plans to remove foreign hardware and software from all state offices.

Trump, said Cramer, feels "prodded by the Chinese, humiliated."

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