| The downward trend in the markets continued in an eventful week of news, economic data, and earnings announcements. The broader S&P 500 index finished trading on Friday down almost 1.0% for the day and down about 1.6% for the week. The S&P 500 index closed at its lowest levels since November 6th on Friday and has fallen 6.6% since its 2010 highs just less than two weeks ago. Equities did not respond well despite President Obama’s first State of the Union address in which he focused on jobs and reviving the U.S. economy. The Fed also held its first meeting of the year in which they kept their target Fed Funds rate unchanged at a range of 0-0.25% while stating that the economy continued to show signs of improvement. The recent correction may be due to ... |
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