Jacksonville, FL - Stocks are taking a dive amid growing concern of financial problems.
And WOKV’s financial analyst says the President’s re-election and policies about to take affect will not help that uncertainty.
“Businesses now will know that they’re going to be taxed more, so you’re going to see even greater willingness to move offshore in to friendlier territories,” says Analyst Hank Madden.
Madden says the new healthcare law is especially concerning to business. He says business owners will face higher costs in many cases, and that will prevent businesses from expanding.
“This idea that things are gunna get better, they’re not. The market sees that, the market knows that, and it’s reacting to that,” he says.
While the looming fiscal showdown and recession concerns seem to be driving the majority of the problems at this time, Madden says politics will continue to play a role in instability moving forward.