Markets fall as Gross says good times are over

Markets fell on Tuesday.

The S&P 500 lost 0.9 percent, its fifth consecutive decline, the longest losing streak in 13 months. West Texas Intermediate oil fell 4.2 percent while the yield on US 10-year Treasuries fell seven basis points to 1.96 percent.

The STOXX Europe 600 fell 0.7 percent, its third consecutive decline, amid concerns over the possible exit of Greece from the euro area. The MSCI Emerging Market Index fell for a fourth day, declining 0.8 percent.

Bill Gross thinks that there are more losses in store for assets in 2015. In his Investment Outlook for January, Gross says: “When the year is done, there will be minus signs in front of returns for many asset classes. The good times are over.”