The magnitude of the rebound on Wall Street has raised eyebrows given the extreme pain on Main Street
New York The US stock market stands 4% higher today compared to a year ago, despite the death and destruction unleashed by the coronavirus pandemic.
Although more than 80,000 Americans have died and over 33 million have lost jobs, Wall Street has swiftly recovered from the initial shock delivered by the health crisis. The S&P 500 has spiked 31% since the March 23 lows. Americans create new economic threat with their own savingsThe rapid recovery on Wall Street has lifted market valuations into ultra-rich territory. The S&P 500 now trades at 22.
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