Because Wall Street has a short attention span, worst that your 2yr old. Duh, the market goes up and down, so don't panic. They are also very short sighted, so even with all the warnings they failed to plan ahead on investments.
Excerpt
SUMMARY: Anxiety over interest rates, the dollar and falling oil prices drove volatility in the financial markets this week; even good news seemed to upset investors. Judy Woodruff talks to Mark Vitner of Wells Fargo about what’s causing the turmoil and what it says about the global economy.
JUDY WOODRUFF (NewsHour): It was another tough day for the financial markets, capping a volatile week, one marked by anxiety over interest rates, the dollar, and falling oil prices, among other things.
More puzzling in some ways, there was good economic news earlier this week, and that still seemed to upset investors. What’s happening here? And does the volatility of recent weeks suggest the end of a bull market?
Well, Mark Vitner is a managing director and senior economist at Wells Fargo, and he joins me now.
So, Mark Vitner, how do you explain all this volatility and especially the downward move after this good news on jobs last week?
MARK VITNER, Wells Fargo: Well, I think it’s really just part of the adjustment process.
We have had interest rates stuck at zero for eight years now, and the economy has improved to the point where the Federal Reserve is likely to raise interest rates probably in June, but probably no later than September. They’re almost definitely going up this year.
And that causes people to reassess how they position certain investments. Companies that are interest-rate sensitive are now falling out of favor. And we have got a lot else going on in the world that’s unnerving the markets. The dollar has strengthened tremendously and has done it very fast. And we have had this incredible slide in oil prices, which you would think is a good thing, but it’s got some people questioning why on earth are prices falling so far so fast.
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