"It really is a reaction to the widening nature of what's going on with the coronavirus," said Lisa Erickson, head of traditional investments at U.S. Bank Wealth Management. "People are concerned about, ultimately, the impact on Chinese growth and perhaps global growth." … [Read more...] about Stocks fall as coronavirus cases appear in U.S.
Stock market fall
“The fear is this could mushroom into an epidemic that could cut into economic activity,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. “If it turns into an epidemic, who’s going to fly?” … [Read more...] about US STOCKS-Wall Street loses ground as China virus spooks investors
“It feels like the coronavirus story is a convenient excuse to take a little profit, sit back and reassess,” David Lafferty, chief market strategist at Nataxis Investment Managers in Boston. “The indexes have become so over bought it feels like it needed a little bit of a breather and I think that’s what the coronavirus (sell-off) is really about.” … [Read more...] about US STOCKS-Wall Street pares losses on positive coronavirus news
Is the anticipation really that high?I think so because if I track whatever people are writing and whatever is going to happen, expectations are running very high. The Budget cannot be a trigger because in the last two-three budgets, the expectations were not there at all. But when they gave some negative things in the last Budget, the markets actually cracked. Otherwise it would have been more or less neutral. This time, people are expecting that LTCG will go or get extended; dividend distribution tax will go; there will be income tax cuts and some huge announcements made. Suddenly, infrastructure activity in the country will pick up. It does not happen that way because infrastructure has been outside the Budget. It is not inside the Budget. The only real big thing which the government has done till now is the corporate tax cut which was the real reform and that is reflected in stock prices because that had to create a 12% to 15% upside in the stock market because the company … [Read more...] about Largecaps could fall more than midcaps this time, financials underperform most: Sandip Sabharwal
“The toggling up and down has to do with short term valuations,” said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. “Investors have to remain cautious in the short term because price matters.” … [Read more...] about US STOCKS-S&P 500, Nasdaq on track for record closing highs