Opinion: Stock Market Crash Round 2 Is Coming
For nearly the past three months, Wall Street and investors have dealt with some of the wildest volatility they've ever seen. In a span of 33 calendar days, the benchmark S&P 500 (SNPINDEX: ^GSPC) lost 34% of its value. That's the quickest descent in history from a recent high. (It's taken an average of 11 months for the S&P 500 to lose 30% during previous bear markets.)
Furthermore, we've witnessed an unprecedented economic impact from the spread of the coronavirus disease 2019 (COVID-19). The coronavirus pandemic shut down nonessential businesses throughout most of the country and has put an estimated 33 million people out of work, based on initial jobless-claim filings over the previous seven weeks.
Despite this, the stock market has clawed its way back, ending the previous week well off its lows. In fact, the technology-heavy Nasdaq Composite is actually higher than where it began the year. This has a lot of folks wondering if the market has put in a firm bottom.
Source Fool.com
