(as of 7:10 AM PST)
It's red everywhere today with stock buyers nowhere to be found. The same stories are the catalyst for today's drop with oil falling below $28 per barrel and China economic numbers showing continued weakness. There has been some good economic news on the US front with inflation almost nonexistent, but, on the down side, housing starts fell more than expected. It seems that fears of another Fed rate hike have taken a back seat in the mind of investors, replaced by fears that international problems might eat away at corporate profits and the ugly term 'recession' is even raising its head. The only bright spots are gold and lower interest rate yields, two categories that investors flock to in periods of uncertainty. It looks like we are in 'correction' territory. Global markets are also under heavy negative pressure. Expect continued volatility.
No comments:
Post a Comment