Consumer ‘uncertainty’ weighing on volatile market: NYSE president
New York Stock Exchange President Lynn Martin on the pressures of inflation, higher gas and food prices and interest rate raises.
From the World Economic Forum in Davos, Switzerland, New York Stock Exchange President Lynn Martin discussed market volatility and the SEC’s concern surrounding lack of IPO deals on "Mornings with Maria" Tuesday.
"What you're seeing in the markets right now really represents the uncertainty that's weighing on consumers' minds," Martin told FOX Business’ Maria Bartiromo. "Worries about inflation, higher gas prices, higher food prices, worries about US economic policy in terms of interest rate raises. It's causing some pressure on the market."
On Monday, stocks jumped across the board following a selloff on Wall Street last week briefly forcing the S&P into bear market territory and the Dow seeing its worst day since 2020. The NYSE president explained the rebound.
"Buyers are meeting sellers, and sellers are meeting buyers and are doing it in a really efficient fashion," Martin said. "Our job at the New York Stock Exchange is to ensure that, particularly in times of volatility, that our markets stay open, transparent, have tremendous amounts of liquidity, and that our systems remain robust and can handle the demand in messaging that we're seeing across our platforms."
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The president also confirmed that SEC Chair Gary Gensler and his team are "very actively at work" on the slowdown of IPOs to the market.