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Stocks closed only slightly down last week, and volatility dropped modestly.
The latest disruption to hit the stock market will be the Federal Reserve's effort to reduce the size of its securities portfolio over the next three years.
Furthermore, the strength of the U.S. Dollar in foreign exchange markets is beginning to hurt the earnings of major companies.
But, the big unknown is still just how effective the Fed will be in sustaining the reductions in its securities portfolios.