The US stock market had an up-and-down day on Thursday, ending in the red in response to the Federal Reserve’s policy announcements and new data showing that the economic rebound is losing momentum.
RT’s Boom Bust talks to Transformity Research CEO Tobin Smith about the current state of the market.
“First of all, the market is tired,” he says, adding that no one is willing to put money in the same stocks that they bought in March or June.
According to Smith, “In a world that is not growing but is actually shrinking, no one is going to value, because value is impossible to come up with today.” He explains that “The new game is currently IPOs and special acquisitions; that’s where the energy is.”
For more stories on economy & finance visit RT’s business section