Another rocky ride on Wall Street yesterday, as the markets began Tuesday by falling significantly, then rallied only to fall again. The Dow ended up down 166 points. Robert Zishka, the manager of A-G Edwards and Sons in Mason City, says there are some other reasons besides corporate bookkeeping scandals that are taking its toll on stocks.There’s a lot of tension with Iraq and the situation in the Middle East. Zishka says we are also seeing some form selling due to the weak status of the American dollar.The dollar has gone down to multi-year lows against the Euro, which he thinks has led to some overseas selling of stocks. Federal Reserve Chairman Alan Greenspan told a Congressional panel this morning that the economy is on the road to recovery, but we’ll still keep feeling the impact of last year’s recession as well as the fallout from the loss of confidence in corporate America. Zishka says the economy will help make a long-term turnaround for the market.Zishka says those with long-term investments need to be patient and ride out the rollercoaster conditions in the market.Combined with last week’s loss of 695 points, the blue chips have fallen 740 points over six straight losing sessions. Combined with 200 point drop this morning, almost lost 1000 points since last Monday.
