Markets fell on Friday.
The S&P 500 fell 0.1 percent, the STOXX Europe 600 fell 0.4 percent and the Nikkei 225 fell 1.0 percent.
Some investors may have turned cautious after gains made by stocks in previous sessions on the back of a dovish turn in the Federal Reserve's monetary policy stance.
“If the Fed is going to cut rates it means that the economic environment is slowing down,” said Lindsey Bell, investment strategist at CFRA. “You have investors looking to bonds to hide out in. You’re also seeing a big move up in gold on the back of the Fed’s decision as well.”
Indeed, Mark Tepper, president and CEO of Strategic Wealth Partners, thinks that with second half 2019 corporate earnings estimates “way too high” and set to fall, “that could exert even more downward pressure on stocks”.
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