Have you noticed how some markets have been gradually coming off the boil, lately? The Dow Jones Industrial Index is about 1.7% lower than a month ago. The FTSE 100 has dropped 1.8% in the last 30 days.
That has rattled some commentators.
Meanwhile, the Hang Seng has lost around 3% in the last month, and it is now in a technical bear market. Closer to home, the Straits Times Index is down around 1.7% over the same period, and Australia’s ASX 200 has lost 1.4% of its value.
Could this be a sign of things to come? Could this mean that the record-breaking run in shares is about to hit the buffers?
Morgan Stanley has said that it is cautious on American stocks that are sensitive to rising interest rates. Others are warning that the economic recovery, which has been fuelled by monetary and fiscal stimulus, could be running out of steam....