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Reality bites: Wall Street rocked as it confronts a painful truth – Sydney Morning Herald

Since March, the market has almost entirely ignored the coronavirus and its economic impacts. But it is becoming obvious that the pillars for its optimism are wobbling…



Financial markets might not be the economy and might be forward-looking but the view that the pandemic was a fleeting phenomenon whose economic impacts would be short-lived always appeared at odds with the lived experience, albeit not with Donald Trumps desperately optimistic predictions.
Investors now appear to be having second thoughts as a new wave of the virus sweeps across America.
Iis obvious that the pillars for their previous optimism are wobbling rather violently
The US is experiencing…

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