DOW's worst day since March | Geoff Dennis speaks to ET Now
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DOW's worst day since March | Geoff Dennis speaks to ET Now Well, you had a fantastic run since the market hit bottom on March 23. You had a huge rally, which took the market back to 5 per cent shy of its old high, and it was the right time for some profit-taking. The market was getting over-extended, but you would never know what the specific triggers were. The logical triggers are, first of all, concerns about the economy, which I think the Fed to a certain extent mentioned and Powell had concerns about how long it is going to take the economy to come back to what it was before Covid-19. You have got real concerns worldwide, but also in the US, about a Second Wave of the virus, which I have argued for weeks is a risk to this market. At this point, I do not think we should get too worried. It is very a healthy profit-taking as the market got over-extended. I think those are the really the reasons why it happened, although, as you rightly imply by your question, this is a very big selloff, says Geoff Dennis Listen in! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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