Well, well, well. What do you know? The stock market took a tumble today because of a debt crisis in Greece.
Wasn’t this market just rallying past 13,000 in large part because the Greek crisis was solved?
Looks like the alternating headlines of Greek crisis solved/Greek crisis not solved is going to keep swinging the market. Click here for today’s headline, “Market slides on economy worries, Greece.” Wasn’t the economy just booming back to life the last we read?
Unfortunately, the world is still reeling from a debt crisis. Europe is in a recession. It’s just a question of how deep. And as Europe slows, China slows and the U.S. slows, too. What did you think was going to happen? Did you really believe all the happy headlines?
Yes, the Dow hit 13,000. But U.S. markets have been propped up with zer0-interest loans to banks and corporations. Where do we go from here? Up and down, back and forth, and maybe even no where.