"Investors were cautiously optimistic at the beginning of President Donald Trump's military campaign, largely betting that the conflict would be contained and that strong corporate earnings and a resilient economy would eventually reassert themselves. But that optimism appears to be fraying as the war drags on and energy markets remain under pressure."
"Since the war began, oil prices have roughly doubled from where they started the year, raising new concerns that higher energy costs could push inflation back up for both businesses and consumers."
"Cindy Beaulieu, chief investment officer for North America at Conning, told The New York Times that the market is still being driven in part by investors' fear of missing a rebound. We still have this underlying theme in the market that if investors take a thought or fear too far, they are going to miss out on the recovery when the market goes higher."
"Citigroup strategist Stuart Kaiser summed up the mood on trading desks bluntly to The New York Times: It's death by a thousand cuts."
The S&P 500 has experienced its fifth consecutive weekly loss, falling 1.7% on Friday and nearly 9% below its January high. Investors initially felt optimistic about the military campaign in Iran, but that sentiment is waning as the conflict continues and energy prices rise. Oil prices have doubled since the year's start, raising inflation concerns. The Nasdaq Composite and other indices have entered correction territory, with every S&P 500 sector declining except energy. Market sentiment is characterized by fear of missing a potential recovery.
Read at www.mediaite.com
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