Markets To Slide Down (UBS)

The euro has continued its slide. On Monday, the sixteen nation currency hit a four-year low.

In an interview with CNBC, Art Cashin, director of floor operations at UBS Financial Services (NYSE: UBS), said, “Everyone’s looking wearily to see if the euro is going to come back and bite them again today. There was a fear on Friday that you might be seeing the son of the flash crash, but it didn’t work out.” He said that he expects the markets to slide down in the long-term.

Meanwhile, Peter Costa, president of Empire Executions, said that he is cautious about the markets but not about the economy.