U.S. markets closed lower after a volatile day that saw wild swings over concern on emerging market outlook. Caterpillar jumped nearly 6% after its optimistic forecast failed to offset fears over the risk of another debt crisis in emerging markets, though many fund managers say this scenario is unlikely. A lackluster earnings season has added to weakness while a 26% return for the S&P 500 last year has fueled valuation concerns. TheStreet’s Jane Searle speaks with Seaport Securities’ Jason Weisberg at the NYSE.
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