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The market's (^GSPC, ^IXIC, ^DJI) sell-off on Monday has amplified concerns, especially when it comes to recession and geopolitical issues.
Slatestone Wealth chief market strategist and host of the Trader Talk podcast Kenny Polcari joins Yahoo Finance host Madison Mills on Catalysts to discuss these market trends, noting that despite the discomfort, long-term investors should see such days as opportunities.
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
This post was written by Josh Lynch
Now I want to welcome in my guest host for this morning, Kenny Polcari. He is the chief market strategist at Slatestone Wealth and host of the Yahoo Finance podcast, Trader Talk. He's got 30 years of experience in institutional equities and wealth management, and he's joining me now. And Kenny, we're going to talk about some of the jobs data that's dropping this morning here, but just want to get your take broadly on what we're seeing in the market in terms of the sell-off.
So, I'm not surprised. I don't think anyone should really be surprised, considering we've been talking about a potential pullback in the market for months now. Everyone saying, you know, it had gotten stretched. Certainly, the tech, the mag 7 had gotten really stretched, but, you know, they kept feeding the beast and so no one really wanted to, uh, no one really wanted to take ownership, right? And then you start getting hit with all the negative headlines, and like I've been saying, suddenly, everyone's accentuating the negative and eliminating the positive, right? Because they're finding any negative story they can find. They're they're ripping it up and they're putting it across the headline and it's creating a lot of angst in the market. Now, some of it is, some of it is real, some of it is concerned about a recession, some of it's, you know, geopolitical concerns, Russia and Ukraine. Uh, and some of it is just a normal cycle in the market. Look, you've gone, we've gone, we've gone a long time without, you know, more than more than 20 months without a 10% pullback, um, and we've gone even longer without more than a 20% pullback, right? So, so the fact that we're starting to see this, and yesterday was, yes, it was an ugly day. Was it uncomfortable? Absolutely. Uh, did it make people a little bit anxious? It surely did, but as a long-term investor, you shouldn't be. Days like that are actually opportunities.
All right. Well, we're going to continue to cover all of that and more throughout our show. Kenny, you're going to stick with us.