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Inflation Sucker Punches Stocks
The year is not getting off to a great start for Wall Street. Inflation from the Federal Reserve has been unsettling to many investors.
Stocks took a big fall Tuesday, after significant gains in the previous two weeks.
According to an article from the Chicago Sun Times, Fed officials made speculations about contributing elements to the inflation:
"a number of Fed officials said a drop in productivity growth, a weakening dollar and high oil prices could all contribute to inflation, and they hinted that interest rates might have to rise more aggressively to strengthen the dollar and curb inflation."
''The Fed's comments really turned a day of light profit-taking into a day of significant profit-taking,'' said Spencer Clarke chief market strategist,Michael Sheldon. ''Clearly, the way the market started off the new year will make investors nervous, and that could feed on itself over the next few days and drive things even lower before it settles down.''
Princeton Financial Group president, Andre J. Bakhos had this to say, "At the moment the fear of higher rates is hitting the market and I believe it will continue."
What a grim year this is turning out to be. I haven't even seen the sun yet...
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Chris Crum
