The forecast on Wall Street is for more dizzying volatility Thursday.
For the time being, according to CNBC, equities are likely to stay vulnerable to high speed moves and wide swings. Already this week, the Dow has lost 6.3 percent, despite the fact it rose nearly 4 percent on Tuesday. The S&P 500 lost 50 points just on Wednesday, finishing at 1,120, one point above Monday's closing level. Investors ran to the safety of bonds, driving rates toward historic low levels. Gold also shot higher, rising above $1,800 an ounce for the first time.
"I think the market is continuing to poke at the European union and it won't be satisfied until we get closure there," said Jack Ablin, chief investment officer of Harris Private Bank. European officials keep "papering over their problems with these different policies from week to week... You've got this common currency without a common policy."
Europe was at the heart of the market's pain Wednesday, as rumors swirled…
Read more at http://www.cnbc.com/id/44099009
No comments:
Post a Comment