- The latest move of the S&P 500 places three major indices fully in the bear’s forest - the Russell 2000, the Nasdaq and now, at last, and firmly, the S&P 500.
- Never before has the Nasdaq (now down more than 30% since the start of the year) had so many stocks that are down by more than 50%.
- More importantly, the arrival of the S&P 500 bear adds one more exclamation point to the fact that we are already in a recession.
- It’s often said that stocks crash ahead of recessions, but that is only true in terms of where the crash begins. They are almost always only recognized deep inside of recessions.
For further details see:
S&P 500 Confirms We're Already In A Recession