The market is currently down (as of 1:45 pm) almost 3%....the pain is everywhere and the ONLY safe place for someones money is to be sitting on the sidelines in cash uninvested!
Here are the four things killing this market:
- U.S. Corporate Earnings (which don't look good - retail spending over the holidays was below consensus as well)
- China (their economy has tanked and their stock market has been absolutely ugly)
- The Fed (they began raising rates in late december and said they will continue to do so throughout 2016...it appears the decision to do so was a mistake)
- Oil (the commodity has dropped to a 13 year low which signals a slowing global economy which has thus spooked the markets and caused the substantial selloff we've seen so far this year)
Frustrating to say the least....so far this year, the markets are down by over 9%...the worst start to a new investment year in over 70 years.
Oil Vey!!!
