Actually, the Stock Market Has Barely Moved the Last Two Years Under Trump
- Its return remains solid but all the gains came before 2018
- This week’s decline leaves it near where the last panic began
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It’s like a gravitational field the S&P 500 can’t get free from, the place to which all rallies must return. And it was back in force Wednesday, eliciting angry notice from President Donald Trump as waves of selling dragged the benchmark within points of where it stood 21 months ago.
As has repeatedly happened in U.S. stocks, a few days of losses just undid weeks and months of progress, depositing the S&P 500 at an all-too-familiar level. Frustrated traders were left to lament that it has taken the better part of two years for the index to advance all of 15 points.