Posted by Halifax America
“U.S. stocks fell sharply at the start of trade Tuesday, extending a pre-Thanksgiving rout that has been fueled mostly by a selling in shares of technology and internet-related companies. Sharp declines in Target and Lowe’s after disappointing earnings also contributed to the tone. U.S. financial markets will be closed Thursday for the Thanksgiving Day holiday and will be see an early close on Friday. U.S. investors continue to be plagued by doubts surrounding slowing global growth, U.S.-China trade relations, and the steady rise in interest rates that can be expected to continue into next year. These doubts have accumulated to induce fears that we are growing nearer to the end of the current economic expansion, strategists say….’Economic data remain strong, but the trend in the trend is deteriorating,’ Peter Lazaroff, co-chief investment officer at Plancorp, told MarketWatch. ‘Economic conditions are good, but the chances of economic conditions deteriorating over the next year or more is much higher than a surprise on the upside,’ Lazaroff said.”
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