Investors avoided another roller coaster day on Wall Street Friday.
What they got instead was a steady, moderate decline that left the market with its worst weekly
performance since May 2012.
Technology shares were especially hard-hit. Semiconductor makers slumped after Microchip Technology cut its sales forecast for the quarter and warned investors to expect bad news from others in the sector.
The decline capped a week of turbulence in the market brought on by renewed fears that economic
growth in Europe could be slowing.
On Wednesday, the Dow Jones industrial average recorded its biggest gain of the year.
The next day, it plunged 334 points, its steepest decline of the year.
link to article
US stocks close out worst week since May 2012
Germany, which has been the economic powerhouse for Europe, reported on Thursday its
biggest monthly drop in exports in five years. In addition, the International Monetary Fund
downgraded its outlook for global economic growth.
Meanwhile, some traders are interpreting the decline in oil prices as further indication that
growth is slowing.
"You put those three factors together and it has investors nervous at the health of the world economy,"
said Jeff Kravetz, regional investment director at U.S. Bank Wealth Management.
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REMEMBER: This was ALL Predicted by Ray Merriman.
You can scroll down to his posting that i
shared here on My Blog.