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Right on schedule after the Labor Day holiday, something came along to bop the stock market.
Most knowledgeable Wall Street observers think stocks are in a bubble and — as I recently wrote — there are at least a dozen things that could cause problems for Wall Street during the traditionally nervous fall period.
On Tuesday, the latest threats from North Korea and counter-threats from Washington caused the Dow Jones industrial average to decline 234 points, which equals more than 1 percent.
Wednesday, the Dow and other indexes, which also fell on Tuesday, recovered a bit.
Why did the market care about North Korea at that time when serious problems in that part of the world have been going on for months? Because it’s fall. Real investors are coming back from their vacations.
In other words, the grown-ups are again in charge of the markets.