Still licking our wounds from the S&P downgrade, the U.S. turned its attention to Europe, where anxiety over the nation's ongoing debt crisis and a possible European credit downgrade began to climb. A highly publicized Bank of America investor conference call that afternoon didn't make matters any better when CEO Brian Moynihan failed to ease investor concerns over the health of the banking industry and the nation's overall economic outlook.
Investors were feeling skittish and fickle. Stocks tanked.
There's good reason to be both optimistic and cautious as we ring in the New Year.
