FORT WORTH (CBSDFW.COM) – The stock market didn’t offer any presents to investors Christmas Eve.
Markets tumbled to their worst Christmas Eve session ever, moving closer to their worst month since the Depression.
Experts said the economy is still healthy, but its moving into the new year and uncertainties aren’t helping.
While the last of the Christmas shoppers were spending money, investors were losing money Christmas Eve.
According to experts, after Christmas bills come in, it might be time for consumers to start tightening their belts.
Wall Street marked Christmas Eve by dipping deeper into the red, even during the holiday season.
The Dow Jones 650 point drop followed the first weekend of another government shut down. The treasury secretary made weekend calls to major U.S. banks, meanwhile President Trump tweeted the economy’s only problem is the Federal Reserve.
He wrote, comparing the fed to a golfer who “has no touch– he can’t putt!”
“I think the main reason right now is we have too many uncertainties coming from too many directions,” said Jim Lacamp, a wealth management manager.
Lacamp said those uncertainties are overshadowing signs of an otherwise healthy economy, with consumers still buying this holiday season and business showing no signs of major layoffs.
He said people should sleep with an eye open on the economy in the coming year.
“We do need to be aware this is a highly, highly unprecedented economy in terms of how much debt is in the system,” said Lacamp. “That’s consumer debt, corporate debt, government debt.”
He also pointed out some of the uncertainties playing a part in the drop could work themselves out over the next few months, and markets are still above where they were a couple years ago.