Why Stocks Spipped 5% in a Single Day

Increasingly solid posture, including well-provisioned hedges, a turning point for chart watchers.

A number of decent earnings releases are some of the explanations.

Add in some short covering, and the outcome was a run-up in the S&P 500 futures from the low to the high that reached a widest point of 5.6%.

In a market with crosscurrents flowing in all directions, including a Federal Reserve determined to control inflation while keeping one eye on financial stability.

The only motto has become to anticipate the unexpected. The S&P 500 reversed course on Thursday after losing half of its gains from the epidemic low in 2020.

A blow to wealth that, while it hasn't yet shown any signs of slowing inflation, may eventually contribute to that objective.


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