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Market News: ConAgra Foods, Groupon, Volkswagen

The stock markets in the United Stated declined driven by the weakness of commodities sector and the selloff in the biotechnology industry. The global auto industry was also affected by the Volkswagen diesel-emission cheating scandal.

In an interview with Bloomberg, Joseph Betlej, vice president of Advantus Capital Management commented that today’s market movement was a “hangover” from the decision of the Federal Reserve. He added that the market experienced a “little bounce” yesterday.

Furthermore, Betlej said, “With macro uncertainty and very little fundamentals overall, when you see a rise in volatility it leads to investor uncertainty and any bad news has the opportunity to shake things up.”

Yesterday, the equity markets gain after four Federal Reserve officials stated the possibility of an interest rate hike before the end of this...