Punch-Drunk Traders Focus Simply on ‘Survival, Not Returns’
- Once-in-a-career event for younger cohort not trading in ‘08
- Analyst says colleagues manned desks for 27 hours amid rout
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Whatever happens in Friday trading, however this week and month closes out, two things are certain in global markets: The scale of February’s moves have few precedents, and everyone involved is going to have stories to tell.
The S&P 500 Index is heading for a seventh day of declines, which would be the longest losing streak since 2016. Some $6 trillion has been wiped off global stocks in this sell-off, while already expensive government bonds have seen so much demand that record-low yields seem to be printed daily.