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SMLL - How Markets Performed During The Spanish Flu
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With equities surging into the close ahead of the weekend, traders are shrugging their shoulders wondering how the hell the market is rallying given the economic damage inflicted by the COVID-19 outbreak, which has been cited as the worst pandemic to hit the United States since the 1918 Spanish flu. This leads to the question, how did the stock market perform during the Spanish flu outbreak? The chart below compares the performance of the DJIA to the weekly mortality rate of the Spanish flu during each of the waves of that pandemic from mid-1918 through