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The bull market turned 11 yesterday. The collapse of Lehman Brothers in September 2008 wreaked havoc on Wall Road. And on Mar 9, 2009, the S&P 500 bottomed out to start out an astral rally. However all that is historical past at the moment because the S&P 500 is now buying and selling at 2,746.56 (as of Mar 9, 2020). The Fed’s quantitative easing and rock-bottom rate of interest coverage to be able to increase a struggling economic system took Wall Road to this excessive.
Nonetheless, evidently the bull market received’t final lengthy because the coronavirus outbreak seems to be as massive a menace because the 2008 monetary disaster. The S&P 500 is now down 19.1% from its all-time excessive of 3393.52. If the decline continues, with the S&P 500 20% under its report excessive, the bull market that started in March 2009 will officially be over.
On Mar 9, 2020, the blue-chip Dow Jones suffered its largest factors single-day drop ever (down 7.8%), with the S&P 500 (down 7.6%) and the Nasdaq (down 7.8%) seeing one of many worst days since the financial crisis. Crude oil costs plunged 25% after the world’s key producing nations failed to chop an output minimize deal. All these sparked extreme…