Investment World Worries About Uncertainty of European Economy
(4/19/12)--The impact of Europe's economy on the U.S. stock market isn't clear because so much is unknown, a Credit Union National Association (CUNA
) economist told Associated Press
The market is "really difficult to classify" at the moment, Mike Schenk, senior economist and vice president of CUNA's economics and statistics, told the world's largest news organization.
"On one hand you hear about 'best day since whatever,' on the other hand you have days and weeks that don't look good at all," he said in the interview.
The market has been volatile, with each report coming out of Europe swinging stock market indexes up or down, depending on the news, for the past two weeks. After a first quarter of mostly gains, the 12 days of trading in the second quarter have fallen, reported AP
Dow Jones, Standard & Poor's, and the Nasdaq indexes fell Wednesday (4/18/12) after a report about bad loans at banks in Spain and an International Monetary Fund report on the state of the European economy.
"We don't have clarity there, we don't know what's going to happen, and we don't know, if things don't go our way, what the ramifications will be," Schenk said. "You and I and the rest of the investment world will continue to worry about uncertainty and volatility for a good while."
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