Jim Welsh saw the decline coming a few weeks ago. The sentiment was so one-sided bullish that it was inevitable. The recovery was starting to plateau and was running out of steam. The combination of what’s happening in the US and the virus and Europe, finally caught up with the market and thus the decline we’re currently experiencing. The Fed easing off the monetary gas pedal is going to have major effects and we’re seeing it now. Let’s see how long it will last for and whether the President will take unilateral action. The Congress needs to act.
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