Is The Government Shutdown A Buying Opportunity For Investors?
  • 11 years ago
Peter P. Costa, president of Empire Executions, Inc., weighs in on day two of the U.S. government shutdown and if this could be a buying opportunity for investors. U.S. stocks continued to fall in mid-day trading on Wednesday, as stocks retreated from Tuesday's gains following the ongoing shutdown. “Well, if the market reacts in a negative tone, definitely. I think the longer it goes there’s more chance of it being a market reacting negatively, but I don’t see this lasting longer than two weeks. I think that their bigger issue is getting the debt ceiling raised. But as far as its overall effect on the economy and the market, if there is a big dip, yeah, it would be a great buying opportunity because the fundamentals are still here.”The Dow Jones industrial average dropped 85.90 points, or 0.57 percent, to 15,105.80. The S&P 500 lost 6.29 points, or 0.37 percent, to 1,688.70. The Nasdaq Composite dropped 10.59 points, or 0.28 percent, to 3,807.59.
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