Stocks tumble as European debt fears weigh - Market Day
Stocks tumble as European debt fears weigh - Market Day ;.. “We have the Spanish problem very high on the surface here, their 10-year rates are now trading at 7.39 percent and you've got Greece rates starting to rise again,” said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vt.
“Greece is beginning to come back into the headlines on top of Spain and that's what is causing the volatility; there are people out there who think we may be approaching the end game.”
Events in Europe looked set to overshadow a slightly better-than-expected U.S. earnings season. As of Friday, with around a quarter of S&P 500 companies reporting, about 70 percent have beaten expectations.
Last week the S&P 500 hit its highest level in 2-1/2 months but weakness on Friday and again on Monday could send it down to around the 1,340 level, which some analysts have flagged as an area of support for the index.
“We have the Spanish problem very high on the surface here, their 10-year rates are now trading at 7.39 percent and you've got Greece rates starting to rise again,” said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vt.
ReplyDelete“Greece is beginning to come back into the headlines on top of Spain and that's what is causing the volatility; there are people out there who think we may be approaching the end game.”
Events in Europe looked set to overshadow a slightly better-than-expected U.S. earnings season. As of Friday, with around a quarter of S&P 500 companies reporting, about 70 percent have beaten expectations.
Last week the S&P 500 hit its highest level in 2-1/2 months but weakness on Friday and again on Monday could send it down to around the 1,340 level, which some analysts have flagged as an area of support for the index.