Markets went down sharply today amid fresh worries about a global economic downturn along with a continued lack of safe havens.
In recent weeks, markets began getting worried when the Federal Reserve basically said they’ve done all they can do and don’t have any more tools at their disposal to stimulate the economy. Nervous markets reacted negatively when it sunk in that the Federal Reserve really did not have any more tricks up their sleeve to stimulate and calm fears. Previously, Wall Street assumed, or remained hopeful the Fed could take additional measures to stimulate markets.
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Now with the European debt crisis seeming to have a new story every week or two, markets seem resigned to a reality of global slowdown and no good economic news anywhere at anytime. If they can’t look to the United States or the European Union for economic stability, where will investors go? The question remains unanswered.