Market Gurus: A World Of Worry on Wall Street
The selloff heard round the world started with a hitch in China, was exacerbated by a technical glitch in New York and became one for the record books. Though the Dow Industrials 400-plus point, or near-4%, decline Feb. 27 was small change compared to the Dow’s 508-point, or 22,6%, crash in October 1987, by one measure or another it was by far the biggest in years, which is one reason it resonated so much.
Now four days on, the market is arguably still looking for a bottom and investors are still in need of insight and guidance. A weekend break for the markets always provides some relief but it also creates its own tension, as edgy investors are sidelined until pent up demand can be satisfied with the reopening of the markets on Monday in the Asia-Pacific region.
We’ve assembled a dozen or so interviews with top analysts and market watchers in an effort to put some perspective on what happened over the past week as well as provide an outlook of things to come.
More to Come?
Fresh off the global rout, everyone wants to know the answer to this question. Stephen Roach, Morgan Stanley chief economist; Donald Straszheim, Roth Capital Partners vice-chairman discuss the possibilities with CNBC's Maria Bartiromo.
Tues. Feb. 27 2007 | 4:30:00 PM [06:15]
Global Market Ripples
Once again, an emerging economy reminds that it is really a global market. Robert Hormats, Goldman Sachs International Vice Chairman and CNBC's Sue Herera discuss how a hiccup in China creates a global gasp.
Wed. Feb. 28 2007 | 1:03:00 PM [03:57]
Remembering The Big Ones
April may be the cruelest month, but October is historically the unlucky one for investors. First 1929, then 1987. Then, of course, Sept. 11 and the turbulent week that followed. Investors have a short memory. That’s what academics are for, right? Jeremy Siegel, Wharton School at The University of Pennsylvania professor of finance and popular author, puts Feb.27 in historical perspective.
Wed. Feb. 28 2007 | 2:23:00 PM [02:41]
Who You Gonna’ Call?
She was right about the best of times, so what about now? Abby Joseph Cohen, Goldman Sachs chief U.S. portfolio strategist tells CNBC's Dylan Ratigan there’s value in the market after the selloff.
Wed. Feb. 28 2007 | 3:23:00 PM [04:37]