Combine this with very modest expectations of 2.5 percent to 3 percent GDP growth in the U.S., along with uncertainty about the Greek debt swap deal, and you have the modest declines we are seeing.
I say modest for a reason: The gnashing, the wailing of teeth...heavens, you would think we had entered a New Dark Age.
With the S&P 500 index down almost 20 points at 1,345, we have now dropped to the lowest levels....since Feb. 15. That's right. We have lost the last 14 days of trading.
If we have a REALLY BAD DAY and we drop another 20 points...to 1,325, that would be the lowest levels...since Feb. 2.
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