John Apruzzese Comments on U.S. Stocks: Marketwatch

May 19, 2010

In an interview with Marketwatch Evercore Wealth Management portfolio manager John Apruzzese attributed the recent market slide to continued investor concerns about the future of the euro.

The currency's overall slide in recent weeks to a four-year low has investors concerned about the ultimate impact on U.S. companies that generate revenues in Europe, Apruzzese said. In the interim, the markets are "very jittery."

"The euro weakness will impact future profits," he said. These companies have in the past found that "a lot of the increase in corporate profits comes from the dollar weakening and then the translation of the foreign profits."