| Commentary |
| The markets in the United States moved sharply lower this week amid the ongoing uncertainty surrounding the so-called “fiscal cliff.” If the President and congressional leaders cannot agree on a new plan by Jan. 1, 2013, approximately $600 billion in broad tax increases and spending cuts will automatically go into effect and tip the fragile economy back into recession.International markets followed the U.S. lead lower in many instances, since a recession in the U.S. would mean a big hit to global economic growth. Indecision in the eurozone has also taken a toll on those markets, while Japan has seen a rapid reversal in its growth. In the end, it appears that monetary stimulus is no longer effective in combatting prolonged slowdowns.
S&P 500 SPDR ETF (ARCA:SPY)
 The S&P 500′s SPDR (ARCA:SPY) ETF fell sharply below its 200-day moving ... |
