Bear alert?
Have the bears returned?
Wall Street is putting on a show for us – as only Wall Street knows how.
Just yesterday everyone was optimistic, all the clouds over the AI bubble disappeared.
But today?
The market is behaving as if we are in a recession.
The S&P 500 index has now erased $1.5 trillion from its market cap in less than two hours.
That's $15 billion per minute for 100 consecutive minutes.
The crazy part?
No significant headline has appeared yet.
Simply nothing happened.
There are various explanations about employment data and interest rate cut expectations – but such a market movement does not occur against the backdrop of such news.
The market is doing what it knows best.
To surprise us.