Our stock analyst pegged it last week when he said it would be the busiest week of the season. Last week, the Dow Industrials had a 300-point drop in one day which wiped out all of the gains for 2014. And Friday saw a drop as well.
“The markets have gotten a little frothy and a little pricey,” says investment counselor Phil Kassewitz who appeared live on “Good Morning Quad Cities”.
Kassewitz says you can thank good economic indicators for spooking the markets.
With growth in employment and a stronger-than-expected Gross Domestic Consumption (GDC) report, investors fear the Federal Reserve may raise interest rates making “free money” less free.
There is also belief the markets cannot sustain these prices.
“When you get an opportunity like this, investors do take advantage of this and do take some profits.”