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Gene Kennedy ReportingThe New York Stock Exchange opens at 7:30 a.m. MST. The Dow could be bracing for another round of rough trading after losing 400 points yesterday.
Many people feel this is simply a correction in the market, not a sign that a bear market is approaching.
Remember the Asian market had been roaring forward. What we're seeing now is a selling frenzy triggered by several factors. The biggest reason is concerns that the Chinese and U.S. economies are slowing down. Some of this has been fueled by Allan Greenspan's comments that the U.S. could experience a "possible" recession later this year.
But many analysts say the U.S. is financially healthy in the long-term and there's no need to panic.
Kurt Brown, Alta Capital: "People have a tendency to buy when they go up, up, up. But you really want to buy them when they are on sale."
Kurt Brown says this may be the time to jump in the market. Some analysts are saying that's a smart idea if you're looking for gains by the end of 2007.
Stocks saw a three-percent drop yesterday and as we prepare for the markets to open this morning, the big question is whether investors react the same way.
We'll be watching closely and talk about it more later today on Eyewitness News at Noon.
