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Stock funds struggle in 2007 as leadership shifts
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| Contributor | Ashley |
| Last Edited | Ashley Dec 29, 2007 05:32pm |
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| Category | General |
| News Date | Friday, December 28, 2007 10:20:00 PM UTC0:0 |
| Description | SAN FRANCISCO (MarketWatch) -- It's said that the stock market climbs a wall of worry. This year mutual-fund investors smacked into that wall, and still have good reason to worry.
Uncertainty about the strength of the U.S. economy and corporate earnings had been building all year, and the dam finally burst in the fourth quarter. The housing downturn and the subprime-induced credit crunch ravaged the financial-services and homebuilding industries, and investors head into 2008 with serious concerns about the potential for damage to the broader economy.
The biggest unknown is whether consumers will cut back on their spending when confronted with declining home values and rising prices for food, energy and other essentials. Many investment strategists surmise that belt-tightening by consumers could tip an already battered U.S. economy into recession, and accordingly they recommend that investors move to protect several years of robust stock-market gains.
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