The Rollercoaster Market And Why My Clients Are Laughing
U.S. stocks closed sharply lower Wednesday as the Dow Jones Industrial Average sank more than 800 points and the Standard & Poor’s Stock Index 500 had its worst day since February as technology stocks went into a freefall.
Look around the rest of the world, and all major indexes also fell for the week, and the majority are negative for the month.
The pundits, media outlets, and market-watchers alike have widely proclaimed this recent selloff to be due to one major factor: It’s the Fed, Stupid.
Market action has been directly affected by higher bond yields and interest rates, both of which could signal a new phase in post crisis markets that have enjoyed an unusually protracted period of ultralow yields – causing extreme overvaluation. Read More…
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