Knoxville — This week’s volatility in the financial markets may reflect concerns about an interest rate hike.
A University of Tennessee economist said a sell-off of technology stocks also contributed to the decreases in the Dow Jones, NASDAQ and Standard & Poor’s stock indexes.
“It’s really a host of different phenomena — those overvalued tech stocks, concerns about interest rate increases, and investors reducing their year-end tax liability,” Dr. Matthew Murray said.
Murray said overseas markets also had big drops Monday, but made up some of that ground Tuesday.