So yes, we are on a ride right now. And it is a wild ride that is about to get even wilder. But let’s maintain our perspective about what this ride is and what it’s about.
by James Corbett
The International Forecaster
Last week in this column, as you might recall, I noted that the coronavirus panic had already produced “the worst week in the markets since the financial crisis, including the worst two-day point drop in Dow Jones history.” And I also warned that “the economic effects of this event are going to be very real and very profound.”
Well, here we are all of one week later. And what a week it has been. Let’s review the week in market headlines, shall we?
March 2 – Dow surge is the biggest-ever point gain. March 3 – Dow drops nearly 800 points after the Fed’s surprising news about the economy. March 4 – The Biden Bounce: Dow Futures Up 666 As Traders Forget About Panicking Fed. March 5 – Global Markets Follow U.S. Stocks Higher.