June’s First Dose of Reality Has Markets Searching for Signposts
- Wells Fargo, ING among those seeing selloff as temporary
- Middle East markets continue negative theme as stocks fall
Source: iStockphoto
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Traders are returning to work trying to decipher whether last week’s selloff was merely a blip or something more ominous.
The fact that risk assets just about gathered their composure Friday following the previous day’s nosedive gave comfort to the bulls -- Wells Fargo & Co. and ING Bank NV were among those saying at the weekend that the retreat will be temporary. But the week produced more than enough evidence to suggest the gains of early June might be coming unstuck.