This wasn’t exactly the cheeriest of weeks for the economy. The economic outlook darkened considerably this week, causing stock prices to tumble and the hiring pace to lose momentum. Weak data suggests that Asia, “the world’s growth engine,” is stalled. U.S. investor optimism is down 21 percent from February levels. And, as if that wasn’t enough, the Labor Department reported today that hiring slowed sharply in May.

Take deep breath, two aspirin. In other news . . .

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