It was a brutal august for stocksrnaround the world. U.S. equities posted their worst August since 2001, with declines ranging from 4% to 6% on the major exchanges. The reasons seemed simple enough: confidence in the economic recovery sank this summer as unemployment remained stubbornly high. Few investors and economists believe that the run of strong corporate profits can continue if the U.S. and other rich world economies sputter.
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