Investors, Analysts Look for Market Rally

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Investors are hoping for a rally after Tuesday's sharp sell-off in the markets, when stocks took their biggest hit so far this year.

Gold prices have dropped more than 6 percent since the end of February and oil prices have also fallen around 5 percent.

Many analysts had expected corrections in the markets since prices had been rising since the beginning of the year.

"When things go straight up and don't ever correct or have some sort of normal pullback, as an investor, that makes me nervous," said Ed Hyland, a global investment specialist with J.P. Morgan Private Bank.

Some still look for higher stock prices in the months ahead because they believe the economy will continue on its path of slow growth.

"We had one pullback," said Frank Fantozzi, CEO of Planned Financial Services, a Cleveland wealth management firm. "I think it's not indicative of anything, that all the sudden we're going to jump off a cliff, or that the market is going to go in a different direction."

An improving U.S. economy has led to more gains on Wall Street since October. Just last week, the Dow Jones industrial average closed above 13,000 for the first time since May 2008.

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