Monday, July 25, 2011

Still no sign of panic in markets

Phillip Klein

Despite the media hype about a major sell-off in markets Monday without a debt ceiling deal, investors seem to be mostly shrugging off the weekend's news about the ongoing stalemate. While stocks are down, they aren't down by much.

The Dow is off 33 points, or about 0.5 percent in mid-morning trading. The S&P 500 and Nasdaq averages are roughly similar.

"There's nervousness about the U.S. debt negotiations, but this isn't panic in the markets," one investor told Bloomberg. This isn't to say that the markets don't care if the debt ceiling is raised.


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