entered bear markets, ending their historic 11-year bull runs. A bear market marks a 20% decline from all-time highs. As a forward-looking mechanism, the stock market usually sends warnings about the economy before shrinking growth shows up in the data.
"Now the good news is not all bear markets occur in recessions; in fact, when the economy has avoided recession, stocks have bottomed right around down 20% over the past several bear markets," said Ryan Detrick, LPL Financial's senior market strategist. Fears of a recession have risen significantly on Wall Street as the coronavirus outbreak worsened drastically in the U.S. President Donald Trump said the U.S. will suspend all travel from Europe for 30 days and declared a national emergency on Friday. Major events have been called off for precaution, including the National Basketball Association, which hasThe S&P 500 plummeted 9.
"COVID-19 is expected to roll through the global economy over February, March, and April, generating GDP contractions in most countries for at least one of the two quarters it straddles," Bruce Kasman, J.P. Morgan's chief economist, said in a note. "If our current forecast is realized it seems appropriate to characterize it as a novel-global recession."
And the media is praying for one.
Not every temporary dislocation is treated like the end of the world.
This time there’s no doubt whatsoever that recession is imminent. Global recession.
How many bear markets from peak have been faster? 0. It's the momentum down that's your clue to what's going on here. Lasting recovery needs positive medical news. Central bankers can't print viruses, or iPhone. Lower interest rates don't reverse lockdowns.
Zero correlation between “the economy” and “the stock market”. If you didn’t learn that from 2008-2016 then I have a bridge to sell you
Three weeks ago our economy was recession proof. Clearly nobody knows what they’re talking about. I’m bullish. New highs EOY 💪🏻🧀
CNBC capitulating. bottom soon?
The recession will come not because of the statistics of the past(70% mentioned in the article) but because of the economic stop we are experiencing due to the coronavirus and the OilPriceWar
Lolz-“Coro” is an exogenous shock like ‘73-74...
Unemployment will double in a month!!
Zero chance we escape a recession, but it can be shallow and short if this gets resolved by mid May
Dear Mr. POTUS that is realDonaldTrump - you know FEAR IS A MOTHER FUCKER & its being CREATED by OUR ARCH ENEMY FakeNews ALTHOUGH coronovarius is REAL so is the FEAR - if PPL thought you were just 'idle' they are NUTS thanks Walmart cvspharmacy Walgreens we SHALL PREVAIL
its going much lower still