US Stocks Slip Amid Libya Turmoil; Energy Climbs | Financial Advisors

US Stocks Slip Amid Libya Turmoil; Energy Climbs

In addition to the turmoil in the Middle East, Steven Roge, portfolio manager at RW Roge & Co. cautioned that markets are due for “another European scare.”

“We think fair value on the S&P is 900 but the likely scenario is that the market is not going to drop drastically to [that level],” he told CNBC. “We think the fundamentals of economy will eventually catch up and the markets will trend sideways. But with a lot of volatility, worries over agricultural prices and worries about Greece coming back every six months, we’re due for another Europe scare.”

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