These 2 Stocks Are Canaries in the Market Coal Mine
The stock market has fallen sharply in recent weeks, and the new month got off to a negative start. Fears about geopolitical and macroeconomic concerns continued to weigh on investor sentiment, as the Federal Reserve prepares to decide on how aggressive it will be with monetary policy later this week. As of 2:15 p.m. ET, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 435 points to 32,543. The S&P 500 (SNPINDEX: ^GSPC) dropped 58 points to 4,074, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) was off by 104 points to 12,231.
A couple of companies in the financial industry reported earnings this morning, and both stocks fell after the report. The fact that Global Payments (NYSE: GPN) and Moody's (NYSE: MCO) are at very different ends of the sector shows that the weakness in the financial markets spans well beyond any single asset class. Below, we'll look more closely at why these two stocks fell and what that means for the broader market.
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Source Fool.com
