Greenspan hints of interest rate hike tumbles wall street

[cycloneye]

http://money.cnn.com/2004/04/20/markets ... tm?cnn=yes

Wow only a few words can move the markets one way or another (-123 points today) but the words from the man who directs the monetary policys the investors always have to hear what he says and they didn't like the interest hike too soon aparently.And this selloff of the market came at the last hour of trading.

[rainstorm]

if the economy continues to expand, interests rates have to go up. its not a bad thing

[Stephanie]

True, but I think it's still way too early to do so.

[rainstorm]

not at all. they have to go up with an expanding economy

[Stephanie]

They do have to go up with an expanding economy, but we have to give it a chance to really get back on it's own two feet. The Iraq war is still troubling and once the interest rates go up, so does the cost of investments, etc.