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High: 90º Low: 64º
High; 92º Low: 65º
Local Financial Expert Analyzes Fiscal Cliff
Twin Falls, Idaho (KMVT-TV) It's been a rough week for the stock market.
The market made small gains Friday, but still closed the week down more than two percent.
This, after investors sold off stocks Wednesday and Thursday as concerns over the fiscal cliff and its potential consequences... grew.
The fiscal cliff refers to recent laws, which if left unchanged will result in tax increases, spending cuts and a corresponding reduction in the budget deficit starting in January.
"When a person wants to invest money they want to know as much about the economy and what's going to happen as possible. So, the sooner the decisions are made the better," said Josh Funk, Waddell & Reed.
Later in the show we'll take a closer look at how the fiscal cliff is impacting financial markets.