Wall Street is as baffled by stocks as ever

While this episode may lack the pandemic’s shock, it makes up for it in the sheer number of cross-currents.

That big of a divergence has prevailed only one other time in the past decade at this time of year: just after the tumultuous selloff of March 2020. Meanwhile, once-sleepy companies like Walmart Inc suddenly went wild, and consumer staples plunged more than 8%, defying the industry’s reputation as a haven during market turmoil.

All round weird

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