In stark contrast to the big 2013 run, Wall Street posted its worst annual kick off in four years as worries swirled over emerging-market tumult.
The Dow Jones Industrial Average dropped 150 points, or 0.94%, to 15698, the S&P 500 fell 11.6 points, or 0.65%, to 1783 and the Nasdaq Composite slumped 19.3 points, or 0.47%, to 4104.
The broad S&P 500 rallied 30% last year. So far, 2014 isn’t off to a great start. The broad S&P 500 slid 3.5% in January in its worst annual starter since 2010. Adding to the bearish mood, the broad-market barometer also snapped a four-month winning streak.
Not to worry…another round of debt ceiling negotiations are coming up and the Republicans totally swear they’re going to be tough this time.
I’m declaring “Happy Hour” three hours early today. I’m sure VodkaPundit will back me up.