Investors took the Federal Reserve’s announcement of its intent to maintain its current easy-money policy as a sign of a weak economy and exited the markets, sending the S&P 500 down for the day and ending its four-session winning streak. “People are looking at it and saying, ‘OK it’s about what we expected, so there’s no real upside, and we’ve traded it up, so now let’s back off a little bit,’” Brad McMillan, chief investment officer for Waltham, Massachusetts-based Commonwealth Financial Network, said. “Everyone was buying in the anticipation of continued stimulus. That is more or less exactly what they’ve got.”
Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
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Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.
Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street. Since 2010, Hilary's financial publications have provided stock analysis and investment advice to her subscribers: