Who's Ready for a Nasdaq Bear Market?
It's amazing how quickly sentiment can shift on Wall Street.
One year ago, on Feb. 19, 2020, the benchmark S&P 500 (SNPINDEX: ^GSPC) hit what was then an all-time high. But in the wake of the coronavirus disease 2019 (COVID-19) pandemic, the broad-based index went on to lose 34% of its value over the following 33 calendar days. For some context here, previous bear market losses in the S&P 500 of at least 30% took an average of 11 months to occur. COVID-19 caused a 34% decline in merely a month.
Now, it's looking like the Nasdaq Composite (NASDAQINDEX: ^IXIC) may share a similar fate one year later.
Source Fool.com
