Fears over the health of developing economies led to sharp drops on Wall Street last week, with the Dow Jones losing nearly 500 points in just two days.
The decade-long rise of those economies has been fueled by China’s economic growth and by the low interest rates set by the U.S. Fed. But the Fed has begun to to taper its easy money policies and China’s growth seems to be slowing.
So are we in for a bumpy year on Wall Street? And whom would that affect?
David Kelly, chief global strategist for J.P. Morgan Funds, joins Here & Now’s Meghna Chakrabarti with some insight. Then, Cardiff Garcia of the Financial Times joins Here & Now’s Jeremy Hobson to take a closer look at Argentina’s currency drop.
To hear the interview with David Kelly, click the audio at the top of the page.
Guest
- David Kelly, chief global strategist and head of the Global Market Insights Strategy Team for J.P. Morgan Funds.
- Cardiff Garcia, reporter for the Financial Times blog FT Alphaville. He tweets @CardiffGarcia.
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