Money & Investing – Banks.com

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The bears are out in force today, seeing if they can engineer a Dow loss of 200 points. And just as I just as I found my retirement portfolio beginning to recover…

At any rate, a number of items are on the list today, causing a shake-up on Wall Street. The fact that Morgan Stanley saw a profit, and the mixed economic news about housing and CPI, is barely acknowledged on Wall Street. Instead, it’s all about two major events:

1. China is restricting lending: China is throwing everyone into turmoil with its announcement that it will be curbing lending, asking banks to suspend lending for the duration of the month. Concerns that China is continuing to tighten monetary policy is causing worry since many have been expecting China to take the lead in global economic recovery and growth in 2010. This is a clear indication that China might not be ready to lead the charge.
2. Scott Brown wins in Massachusetts: Even with a bumbling campaign from his opponent, few people seriously expected Republican Scott Brown to pull out a win in the contest for the late Edward Kennedy’s seat. However, he did manage it, and as a result the entire health care debate could be restructured. It will be interesting to see what could happen going forward, and the uncertainty is contributing to the bulls’ rout.

It will be interesting to see how things unfold in the next few days, and how investors digest all of these happenings. And, of course, you will have to consider your current position, and whether or not you need to make some changes in your own investment portfolio.

Disclaimer: I am not an investment professional. Nothing in this piece or on this Web site should be construed as investment advice. Before making investment decisions, do your own research and/or consult with an investment professional. All investment comes with the risk of loss. You are responsible for your own investment decisions and any loss that may result from your decisions.