(As of 7:15 am PST)
It’s another quiet day on Wall Street today. Markets opened lower with the Dow leading the
major indexes in the retreat. Many analysts
are calling for a summer correction as the market appears topped out at its
current levels. Today’s report from the
World Bank is adding to the negative sentiment.
The World Bank cut its global growth forecast for 2014, citing concerns
in the Ukraine-Russia crisis and also the rough winter seen in the United
States. The bank trimmed its forecast to
2.8% for the year from its 3.2% forecast previously given earlier this
year. Complacency and low volatility
readings over the past several weeks are cause for concern and there’s a sense
we may be headed into an overdue correction.
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