The bears are back on Wall Street and the question on everyone’s mind is: just how low can it go?
Yesterday, the Nasdaq – which has been on a steady slide for months – hit a new low, falling below 2,000 for the first time in two years. Even worse, it dragged the S&P 500 – a broader stock index that includes old economy stocks as well as technology upstarts – with it. Old economy stocks that just months ago were ugly ducklings are today’s beauty queens and the talk on the street is all about bonds.
Is the drop in the technology stocks just a sign that investors have finally started doing their math? Or is this the beginning of the end for the U. S. Economy? The bears take on the bulls just ahead on the Connection.
(Hosted by John Mcchesney)
Guests:
John Bitner, senior vice president, Eastern Bank in Malden, Massachusetts
Peter Canelo, chief investment strategist at Morgan Stanley
Dean Witter, New York
John Spooner, senior vice president, Saloman Smith Barney, Boston, author of “Do You Want to Make Money, or Do You Want to Fool Around?”