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Wall Street Takes Hits After Record Setting Year

Wall Street Takes Hits After Record Setting Year

Wall Street rebounded slightly after losing 326 points during trading on Monday. The Dow was up 72 points on Tuesday, but it’s no longer setting the record highs that it was just a couple of months ago. Financial planner Richard Rosso explains why.

“We’ve got an emerging markets issue cropping up. It’s another excuse for people to sell,” Rosso said.

 

Markets in Turkey, Russia and South Africa have all lost more than 10% since the start of the year.

 

But that’s not the only thing that’s impacting your stocks. Rosso says the sputtering economy is having an impact as well.

 

“Main Street sees the recovery is not all it’s cracked up to be. And the market is also getting a handle on that,” Rosso stated.

 

And then there is the Fed’s decision to taper it’s stimulus a few months ago. Add all of those factors together, and Rosso says that’s why Wall Street is off to a bad start in 2014.

 

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