What Happened in the Stock Market Today

Credit: Motley Fool- Published 2 weeks ago
Uber and Mattel tumbled amid a broad stock market slump.
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Credit: The Street
Published 2 weeks ago -  01:32
Fomo is Market’s Biggest Problem
FOMO, or the fear of missing out, is the market's biggest problem right now, according to one market participant. Trump's remark that he would like to impose 105 to 25% tariffs on Chinese imports sent the U.S. stock market tumbling Thursday, and the losses haven't abated. This creates a buying opportunity in some names. When asked what his clients' biggest irrational fear is during wild market swings like this, Chris Macke, corporate investment strategist, said FOMO was the answer. "Oddly enough, when we've got this big bad breaking news like you're talking about, it's actually fear of missing out [clients' fear]," Mackie told TheStreet. "It's important that investors understand there are issues like trade policy uncertainty that aren't going to be resolved tomorrow." Macke also said the trade conflict "has an impact on earnings growth in the future so [the] biggest irrational concern that I see is investors watching rising stock market valuations and feeling like they're missing out. It's kind of like being at the cocktail party when everybody says, 'Oh, you know, my home value went up this much and my home value went up this much, and you're seven years into those home values going up, and you've heard that over and over again at the cocktail party and you decide to get in at the last point. That may not be the best time." Premium Pick: Jim Cramer: 7 Sectors You Can Buy as the Trade War Continues Ready to Retire: The Biggest Threat to Your Retirement? Check Your Basement TheStreet Feature: Investing Advice: What Kevin O'Leary Would Tell His 40-Year-Old Self Catch Up: Today's Top News Videos Below

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