Market Commentary

There wasn’t much to ‘Like’ in the financial markets last week as stocks took a hit on another round of global worries. High on the list of concerns were:

·         Continuing anxiety over Greece’s ability to avoid default and remain in the euro.

·         Rising borrowing costs for Italy and Spain.

·         Ongoing fears of an economic slowdown in China.

·         Loss of faith in the banking system due to JPMorgan’s $2 billion (and growing) bad bet.

·         A very tepid response to the highly anticipated stock market debut of Facebook.

Source: CNNMoney