Wall Street Panic! JPMorgan Hints at Recession as Job Numbers Get a Dreadful Plot Twist 😱
As tremblings set into the hands of analysts (those tireless monks of Wall Street, forever calculating salvation in spreadsheets), Fortune delivers their latest gospel. The jobs report, much awaited, arrived like an aging czar-tardy and disappointing. Seventy-three thousand jobs, they say! Not even a hundred thousand-oh, how the mighty have fallen. May and July, our former heroes, have been demoted too: their numbers revised downward, puncturing the brave faces of forecasts past. Who revised them? Is it an act of accounting, or a Dostoevskian confession?