There was a dramatic decline in confidence among affluent investors in January, driven by the stock market slide since the beginning of the year, says a survey by Spectrem Group. The ‘Spectrem Millionaire Investor Confidence Index (SMICI)’ was down 14 points to minus three, a 38-month low. The ‘Affluent Investor Confidence Index (SAICI)’ dropped eight points to minus four, a 27-month low. This is the first time since December 2012 – when concern about the U.S. going over the ‘fiscal cliff’ was at its peak – that each index has posted a negative reading. “Global markets are continuing to experience high volatility tied to poor macro-economic conditions and rising geopolitical uncertainty,” says George H. Walper, Jr., president of Spectrem Group.
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