Market needs to plunge to force Congress to act# Stock
l*r
1 楼
http://buzz.money.cnn.com/2013/10/08/market-plunge-debt-ceiling
Amazingly enough, investors still don't appear to be too scared about a pote
ntial debt default by the United States.
And unless traders start showing some real fear, Congress may not act until
after significant damage is already done.
The Dow is down about 5% from the all-time high it hit shortly after Labor D
ay. The broader S&P 500 is just 3% below its record -- also from early Septe
mber.
Given that the market has been hotter than Peyton Manning (okay, nothing is
that hot) for most of the year, it's not surprising that stocks have cooled
during the past month.
Even if there was no government shutdown/debt limit drama in Washington, inv
estors would still have reason to take a break from buying. After all, there
are concerns about earnings and whether stocks are overpriced.
But this dribs and drabs sell-off is a sign that investors still expect our
nation's least and dimmest on Capitol Hill to eventually reach a last-minute
deal to raise the debt ceiling. Why worry if you think, a la Bob Marley, th
at every little thing is gonna be all right?
Amazingly enough, investors still don't appear to be too scared about a pote
ntial debt default by the United States.
And unless traders start showing some real fear, Congress may not act until
after significant damage is already done.
The Dow is down about 5% from the all-time high it hit shortly after Labor D
ay. The broader S&P 500 is just 3% below its record -- also from early Septe
mber.
Given that the market has been hotter than Peyton Manning (okay, nothing is
that hot) for most of the year, it's not surprising that stocks have cooled
during the past month.
Even if there was no government shutdown/debt limit drama in Washington, inv
estors would still have reason to take a break from buying. After all, there
are concerns about earnings and whether stocks are overpriced.
But this dribs and drabs sell-off is a sign that investors still expect our
nation's least and dimmest on Capitol Hill to eventually reach a last-minute
deal to raise the debt ceiling. Why worry if you think, a la Bob Marley, th
at every little thing is gonna be all right?
