Stocks turned negative as energy prices continued an aggressive slide and outweighed a surge in banking stocks. Stocks were mixed earlier as banking leaders jumped on positive comments from analyst Meredith Whitney but technology stocks slumped amid economic worries. Read and listen to what the experts had to say…
Markets to Retreat Further
"We've been going through this wave of indecision for the past 2 to 3 weeks, which I really think is going to give way to further retreats, not only in the U.S. but also in emerging markets and the FTSE," said Ashraf Laidi of CMC Markets.
S&P at ‘Critical Level’
The S&P 500 is at a critical level and could see sharp declines or gainsdepending on what happens over the next two weeks, said Dodge Dorland from Landor Capital Management. "We see a lot of trading and volatility that doesn’t make sense in the longer-term point of view. So investors on the sidelines are probably going to have much more conviction to be able to put money to work," he said.