Outlook: Stock market’s biggest risk? Duh. It’s Europe. – Oct. 11, 2011

Maps shows a group of countries known as the P...

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NEW YORK CNNMoney — It’s been on and off the back burner for a year and a half, but the European debt crisis is finally nearing a boiling point.

In fact, more than 80% of the experts surveyed by CNNMoney agree that the money problems across the Atlantic are the most challenging hurdle for stocks, which have been struggling to claw back from the lows they hit earlier this month.

Europe‘s debt crisis is the No. 1 risk facing the market right now,” said Fred Dickson, chief market strategist at D.A. Davidson & Co. “Each step made toward solving the sovereign debt or bank reserve issues seem to raise new question, and the news suddenly changes from being very negative to very positive and vice versa.

“Investors first became troubled by the eurozone’s fiscal woes in early 2010, as worries about Greece defaulting on its debt spread to the other so-called PIIGS, including Portugal, Ireland, Italy, and Spain.

Policymakers were able to ease those concerns with bandages of bailouts and austerity measures, and events like the Arab Spring helped distract investors, at least temporarily. But the crisis continued to escalate and has gripped investors’ attention for months.

via Outlook: Stock market’s biggest risk? Duh. It’s Europe. – Oct. 11, 2011.

Strange Random Stock Market Quote:

“The Government’s business is in sound condition.” – Andrew W. Mellon, Secretary of the TreasuryDec 5, 1929

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Posted on October 12, 2011, in Article and tagged , , , , , , , , , . Bookmark the permalink. 1 Comment.

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