Read more on this subject: United States
Opinion Column by Stephen Lendman
Markets Screaming Global Recession
by Stephen Lendman (stephenlendman.org – Home – Stephen Lendman)
The longest bull market in US history began on March 9, 2009.
It ended on March 11, 2020 when the Dow average closed down 20% from its 29,551.42 February 12, 2020 all-time closing high.
The same goes for the S & P 500 and Nasdaq — the former way down from its 3,386.15 closing high, the latter far below its 9,817.18 record high valuation.
According to stock market metrics used by most analysts, US equities reached bubble levels greater than before the 1929 crash and dot com peak.
Even after declining around 20% through March 11, plunging dramatically further on Thursday, the sharpest one-day fall since October 1987, valuations remain greatly inflated.
There's much more to go on the downside to revert to mean valuations that could take considerable time to reach.
COVID-19 was the pin that burst the equity bubble, not the
Read More or Make a Comment