The Correction continues!

[GFB]

..and I'm...pleased.

[Red Oak]

Correction ? I didn't think anything was wrong.

[Bob Of Burleson]

Tensions in Ukraine flare up, spooking fragile Dow

By: Adam Shell
USA Today

Dow goes down on fresh geopolitical fears related to the Ukraine crisis. Trader Peter Mancuso works on the floor of the New York Stock Exchange on Aug. 5. (Richard Drew, AP)

Just when the market was trying to find its footing, geopolitics rocked the Dow again today. This time it was renewed fears that Russia might invade Ukraine.

Whether the fears are simply rumor or innuendo, or real fears taken from a Bloomberg report citing comments from Poland’s foreign minister that Russia troops are poised to invade Ukraine, investors opted to reduce their risk exposure and dumped stocks, says Alan Skrainka, chief investment officer at Cornerstone Wealth Management.

The Dow was down as much as 200 points in afternoon trading, but recouped some of its losses and was down about 135 points, or 0.8%, around 3:50 p.m. ET.

“Yes the Russia invasion story caused the bear to come back out of the den,” says Ann Miletti, portfolio manager at Wells Fargo Advantage Funds.

Geopolitical risks in Ukraine and the recent fighting between Israel and Hamas has rattled markets for weeks. Earlier today, Israel pulled troops out of Gaza as part of a cease-fire.

Any Russian military move into Ukraine would mark a massive escalation of the crisis there, which worries markets as it is likely to hinder an already weak European economy and ratchet up tensions between Russia and the West.

Erik Davidson, deputy chief investment officer at Wells Fargo Private Bank, cited the market’s midday slump to “Ukraine-related sabre-rattling concerns.”

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[GFB]

The slide continues!

[planosteve]

Putin fired back and announced sactions against European food products which has the Europeans shaking in their boots. So, the trade war is on.