Gummy bears

This bear market doesn’t have teeth

Investors are spooked. They fear bears are hiding around the corner, waiting to devour them. After all, look at the market’s reaction to July’s unemployment figures. The S&P 500 index of big American companies dropped 6% after the Bureau of Labor Statistics (BLS) announced the unemployment rate had climbed to 4.3% in July from 4.1% the previous month. T…