U.S. stocks were down modestly midday Friday, on track for a third-consecutive decline. The possible causes for the sell-off are many.
-- It could be a reaction to President Obama's proposed "Volcker Rule" that would prohibit banks from running hedge funds, private equity funds and partaking in the profitable practice of proprietary trading.
-- It could be continued concerns that China is cooling off their red-hot economy.
-- It might also be the increasing opposition to Ben Bernanke's reconfirmation as Federal Reserve chairman. (We all know how well his cheap money policies have benefited Wall Street.)
Or as James Altucher of Formula Capital says, it might just be "people taking profits after such a great run." Let's face it, stocks rarely appreciate so much and for so long without a correction.
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