It’s been another roller coaster ride this week on Wall Street.
Tuesday this week saw the Dow Jones Industrial drop more than 1,250 points and the S&P 500 fall over four percent.
We spoke with local financial advisor Howie Pentony who says inflation is the main driver of the market at the moment.
“It’s crazy. Everything is now very emotional right now. If someone mentions inflation, and the number is not necessarily good, the market does poorly,” Pentony said. “And that’s what’s been going on to this point.”
Pentony says with the inflation numbers remaining high, he believes that could lead to another decision that will impact markets.
“I’m more concerned with rising interest rates to be honest,” Pentony said. “I think interest rates could rise significantly. If they do, that could be something that hurts the market.”
Overall on the year, the markets are down just shy of 20 percent.
Pentony is the founder of Pentony Capital Management in Portersville.
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