One way investors/readers could characterize the current environment is as a world filled with concerns.
Concern about the U.S. housing sector. Concern about declining U.S. disposable income. Concerning about slowing GDP growth in Europe and Asia. Concern about the Yankees not winning the American League pennant.
O.K., that last item was a purely subjective, parochial one, but you get the point: there's concern that global economic conditions are worsening, not improving.
Europe's GDP is latest focal point
Further, while emerging markets in Asia, led by China and India, have been the growth story of the decade, the region really sending a chill up economists' -- business executives' -- spines is Europe, so says economist Glen Langan.
"Up through July we had seen weakness in Italy, Greece, Spain, and Portugal, and the investment community's response was one of 'no big deal, they are not the major growth regions, anyway,'" Langan said. "But now there's signs of slowing in Germany, France, and the United Kingdom, and nearly every demand-side indicator is in retreat. It's a pronounced psychological shift, no question."
Before the bell: Stocks futures steady ahead of GDP, housing data
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