NEW YORK, Jan 28 ― The latest rally in US stocks is facing a serious test, as the S&P 500 heads toward its worst loss in months on concerns over how the coronavirus will impact the global economy. So far, the selling has been measured, with most investors confident the US economy remains in...
Yesterday, the benchmark S&P 500 stock index broke a streak of 71 days without a 1 per cent move, the third such longest stretch since 1995. — Reuters pic
Still, worries have grown that months of placid trading may have left stocks primed for an upsurge in volatility. Past runs of quiet trading in US stocks have tended to culminate in periods of turbulence: for instance, an unusually calm period from September 2017 to January 2018 preceded a sharp sell-off in February 2018, fueled by an implosion of bets volatility would stay low.
There have been few tests of the bull market's most recent leg higher, which before Monday's losses has seen the S&P hit numerous fresh highs after the preliminary US-China trade deal was announced in mid-December.
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