A lot of eyes have been on Wall Street and the Stock Market over the last few days.
When trading opened Tuesday, the wild ride continued as the Dow Jones opened down more than 500 points before rebounding and erasing its early losses.
Howie Petony from Petony Capital Management in Portersville says this roller coaster ride with the stocks is nothing surprising and shouldn’t be too alarming.
“We’ve had such a great run,” Petony said in an interview Monday afternoon. “Everyone needs to keep in mind that the numbers are so big anymore with the DOW. When we had that 600-point drop last week, it was barely over two percent. That doesn’t mean it’s not going to turn into something that’s not good. But at this juncture, it’s much to do about nothing.”
The market mayhem began Friday after a robust jobs report fed investor fear that a healthy economy would lead the Federal Reserve to raise rates multiple times this year and tighten conditions for borrowing money.
On Monday, the Dow suffered its worst ever one-day point decline.
Associated Press contributed to this report.
