HYCM's Coghlan: U.S. banking woes are creating global trouble

Giles Coghlan, chief market analyst at HYCM, says that the financial concerns springing from the current bank concerns are building a currency and economic crises for the rest of the world, noting that the situation has changed interest-rate expectations for central banks around the globe. He expects the Federal Reserve to follow the path set by the ECB -- Europe's central bank -- moderating expectations and hinting at rate cuts starting late this year, triggering significant market volatility as investors respond to the news. Also on the show, Stan Haithcock — Stan the Annuity Man - returns to help Chuck answer a listener's question about dollar-cost averaging into annuity products, Chuck discusses stock-picking gone wrong and Jim Cramer in today's wild markets, and Daniel Kern, chief investment officer at Nixon Peabody Trust Co., talks stocks, funds and ETFs in the Money Life Market Call.