A list of things to worry about
The S&P 500 is down 10 points to 2344 and 10-year yields are below key support at 2.30% on Wednesday. It's a sign of a market that's found something to fret about.
Here are some of the things we're hearing.
1) Credit
Credit card debt hit $1 trillion in the US to join the club along with auto and student loans. More consumer debt than ever and rising interest rates aren't a good combo.
2) Lending
Paradoxically, banks are lending less or at least growth is slowing. Bank lending rose 3.8% in 2016 compared to 6.4% in 2015 and 7.6% in 2014. If consumers and businesses are so excited about Trump, why aren't the lending? The WSJ has some theories but nothing satisfying.
3) North Korea
Trump's ramping up the rhetoric and trying to get China on board but there is no easy solution. North Korea could devastate Seoul and has an enormous military. A misstep is possible.
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