The stock market is … an idiot - a podcast by Marketplace

That’s the conclusion of “Marketplace” host Kai Ryssdal after a market freakout yesterday. What spooked it? News that the Biden administration wants to jack up the capital gains tax rate. “Have traders heard of the United States Senate?” our host wondered. All that and more on today’s Weekly Wrap. Also on the show: Homebuyers are waiving contingencies in this hot housing market, Olympic gymnast Simone Biles is leaving Nike for a smaller athletic brand and the president says tackling climate change will create jobs.

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