As we near the end of summer, rumors, national events or any other headline has dramatic effects on the markets.
Yesterday the markets had a pretty sharp down day. Not to minimize the impact of the day, but as a reminder, sell-offs are a natural event, especially after the end of the month, and with few professional investors at the helm of their ship.
Can it go farther?
Absolutely, and we actually hope that is does, just as a marathon runner slows and catches their breath, the markets need a breather too. We will be keeping an eye out for company pre-announcements and economic reports, since this is all we have to go on currently.
If the economy is still healing, we would expect the markets to eventually respond accordingly or visa versa.
A pause for refreshment is not a bad thing!