Stocks slump the most in two months on Wall Street

[Omaha Steve]

Source: AP, Excite

By STEVE ROTHWELL

NEW YORK (AP) - The stock market had its worst day of the year so far, extending a January slump.

Stocks dropped Monday as falling oil prices pushed down energy stocks. The prospect of the Federal Reserve further cutting back on its economic stimulus also weighed on the market.

Stocks are falling back this year after exceptional gains pushed the market to record levels in 2013. Investors' confidence that the economy was recovering was jolted Friday by a weak employment report that showed far fewer jobs were added in December than economists had forecast.

Unlike last year, investors have so far been reluctant to buy stocks when the market has slumped. Instead they appear to be waiting for more news before committing, said Peter Cardillo, chief market economist at Rockwell Global Capital.

FULL story at link.


Read more: http://apnews.excite.com/article/20140113/DABA5PDO1.html

[louis-t]

1. Hmmm, falling oil prices?

Gas went up here 2 weeks ago and hasn't gone back down.

[question everything]

7. Same here. Went down during the weekend

and jump up bright and shiny Monday morning.

[Swede Atlanta]

2. This should be no surprise to anyone.....

the market is over-heated. Stocks rose overall over 20% in 2013 in an arguably tepid economy.

While I am maintaining my current portfolio distribution based on my age and when I will need those assets to support retirement I am expecting up to a 15% correction in 2014. Luckily I still have 5-7 years before I plan to retire.

Steep rises in the market are almost always followed by similarly steep drops. The market (and investors) do best when the market edges up slowly and steadily based on "real" market realities and not speculation.

[maindawg]

3. Good

Why do I care about the stock market? It has no connection to main street. I am sick of hearing about it. I hate money. Every time I have to hear the idiot stock market guy on the radio he is predicting doom and gloom. Every time. It has no bearing upon my life. None. Oil prices dropped eh? Who fucking cares?

[OKNancy]

5. everytime there is a post about the market going up or down we get posts like this

It may not impact you but it does a lot of people near or in retirement. My IRA is very important to my husband and me.

[Helen Borg]

4. Bubble. No brainer here...

nt

[question everything]

6. Falling oil prices?

Here, price at the pump jumped 15 cents!