The markets suffered their worst day of the year yesterday.
The Dow plunged over 1,000 points at closing bell. Local financial advisor Howie Pentony says the recent decision by the federal reserve is behind the fall.
“Right now the market is being influenced by rising interest rates,” Pentony said. “The interest rate on the treasury bonds is just zooming up.”
Pentony says he expects the volatility to continue for a bit.
“The market is just crazy. Everyday you see volatility way up or way down, and that’s just a normal function of the market. So until we get slowed down a little bit and we get things out of the way I think this volatility is going to continue, and that’s okay,” Pentony said.
Pentony is the founder and president of Pentony Capital Management in Portersville.
