There's No Reason Why Stocks Are Down Today

Thereâ??s a lot of uncertainty in the global economy, and thatâ??s the kind of thing which makes stocks volatile. This morning, weâ??re seeing that volatility express itself, with global stocks all falling and US stocks down about 2.5% from where they closed yesterday. But letâ??s not kid ourselves that thereâ??s any particular reason why global stocks are falling. And especially, letâ??s not try to invent some spurious reason for the fall, be it broad and inchoate (â??global economy fearsâ?) or weirdly specific (â??Federal Reserve pessimismâ?).