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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…

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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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