"Greece" is the word when it comes the
global markets’ anxieties, but that word – specifically, the economic
crisis there – doesn't seem to worry the average American, at least based
on their Internet search behavior.
Despite
Wednesday's selloff in the S&P 500 (^GSPC) in part due to "Grexit" concerns, the
index remains in positive territory for the year. And to be sure, U.S. markets
have moved occasionally because of events in Greece. For example, the S&P
500 dropped 1.6% back on February 6 when Greece’s rating was lowered to B- by
Standard & Poor’s. On the flipside, when Greece sealed a 4-month extension
deal on February 20, the S&P 500 gained 1.0%.
Current talks between Greece and its creditors
have yet to end with a resolution. If Greece doesn’t pay back the International
Monetary Fund, a default could force the country out of the Eurozone and the
economic aftermath could be disastrous and could have an affect on U.S.
markets.
Yet the
average American has other economic concerns, according to Nick Colas, the
chief market strategist at Convergex, a brokerage services provider in New
York. Using Google Trends (GOOG) to assess various economic-related
searches, Colas found users in the United States searched word “jobs” 10 times
more than “Greece”. Read more
No comments:
Post a Comment