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IWL - The Stock Market Will Reconnect With The Economy - Then What?
iShares Russell Top 200
There’s no doubt about it. Economies around the world are in a COVID-19 recession. In the US, GDP has declined 10% through July. A recession is defined as a decline of 10% or more. In the following picture, changes are annualized. The unannualized decline is 10% so far this year.
Furthermore, unemployment soared to 15% but has corrected back down to 10%. Although this is far from the 25% unemployment suffered in the Great Depression, the pandemic has not ended yet.
But despite these problems, the US stock market is climbing the infamous wall of