March 1, 2007
It was deja vu all over again. The bottom fell out of the market at the
opening bell with the Dow plummeting 200 points.
The trigger, another sell-off in global markets overnight and the same
worries that existed before Tuesday's bloodbath.
"Fears of a slower economy, geopolitical concerns, sub prime mortgage companies, China, across the board those problems will be with us for a little while" said Art Hogan, Jeffries & Company.
Strong reports on consumer spending and manufacturing helped stem the losses, but the markets are on track for their worst week in years.
"A lot of professionals were anticipating the correction, the problem is, of course, you never know where its going to come or what's going to trigger that event" said Ted Weisberg, a NYSE floor trader.
Market watchers are still split on whether this is the other shoe
dropping or "look out below" with a bigger sell-off coming.
Still the experts say the average investor shouldn't make any hasty
"You really should look at the market as a long term investment vehicle, because there is going to be this inherent volatility" said Hogan.
Leaving investors to just hold on and ride out the wall street roller