Major U.S. markets closed lower Wednesday after the IMF warned of a still-fragile outlook for global growth as political riots in the Ukraine unsettled global equity markets. U.S. housing starts for January slid more than expected. Virtu Financial’s Matt Cheslock says bad weather may have been to blame. Cheslock says that while earnings are not a game changer for the market those who continue to beat low expectations are being rewarded and those who have underperformed are being punished. Cheslock also says that M&A continues to be the name of the game as corporations seek new growth options. TheStreet’s Jane Searle has details from the NYSE.
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