US stocks drop sharply as strong jobs report raises prospect of summer rate hike; dollar jumps

“The Fed is not going to raise interest rates from zero to five percent overnight,” said Kevin Mahn, Chief Investment Officer of Hennion & Walsh Asset Management.

Mahn says that investors should remember that if interest rates are going up, it’s because the economy is getting stronger, and while rates may rise this year, they remain low by historical standards.

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