Wall Street traders don't like the uncertainty of the trade war with China or the Fed putting the brakes on the economy with rising interest rates. Last week was a bad week on Wall Street and yesterday didn't help.
America's Money Answers man Jordan Goodman says it appears we're in a bear market.
"The expectation is that earnings will go down next year; the whole controversy with China seems to be getting worse, not better, we now have a March 1st deadline and it doesn't look likely there will be an agreement, which means tariffs will go up 25%."
Goodman says you can blame President Trump for the China trade war, but not interest rates.
"Well, I think Trump certainly is the cause of the China trade war -- but he's not the cause of the Federal Reserve raising interest rates; he's been telling the Federal Reserve not to raise interest rates."
Goodman says now is a good time for investors to be conservative.
"Sometimes you wanna pull some money out of the markets and be conservative with it; bond prices have been going up and yields going down, so I think it's time to take some money off the table."
Retirement accounts took a beating last week with the Dow losing 4.5%.