The Super Rally in Stocks Starts to Show Cracks
- The S&P 500’s worst drop since January resurfaces old fears
- ‘Let’s take what we’ve got and not end up losing for the year’
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Rarely do 2 percent pullbacks feel this scary.
Seven days into May, and while the stock market’s 2019 miracle remains intact, it’s starting to show cracks. A hundred words of Donald Trump tariff tweeting has quickly become $500 billion in value erased in the S&P 500. Dread is creeping in. The index is down 2.1 percent in the five days since Federal Reserve Chairman Jerome Powell played down hopes for a rate cut.