September stock slump shows bear market’s staying power

📆 9/30/2023 12:20 AM
📰 axios

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Much of the year's gains have melted away.

Data: FactSet; Chart: Axios Visualshave melted away over the last few months.Touching a new high is the traditional confirmation that stocks are officially in a new bull market.

Stocks started to rise as inflation reportsFalling inflation led to a tumble in long-term interest rates, as investors bet the Fed might ease its tough monetary policy. (Lower long-term interest rates

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