Stocks Hammered Amid Concerns About Labor Costs

Stocks Hammered Amid Concerns About Labor Costs
(New York, NY) -- It's one of the worst days in months on Wall Street. Mark Cook of "Cook Investment Advisory Newsletter" says some investors were looking at what the Federal Reserve will do soon.
Other worries about labor costs and the strength of overseas markets led to big losses on the major stock market indexes. All 30 companies for the Dow closed with losses Thursday. The Dow lost 317 points to 16-564. The S&P 500 dropped 39 points to 19-31. The Nasdaq closed at 43-70, a loss of 93 points.

Mark Cook of "Cook Investment Advisory Newsletter" says investors were worried about the possibility of the Federal Reserve increasing interest rates, like they did in 1987. Cook says the signs are showing for a return to a bear market. Play Clip