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FOMO Overwhelms Stock Traders Who Have Begun Ignoring the Risks

  • S&P 500 flirts with new bull market as virus impact grows
  • Rally in risk assets comes despite bleak economic outlook

There hasn’t been much of a consensus on Wall Street lately but all of a sudden it looks like investors agree on two things: This rally has legs, and the economic crisis might be the worst in living memory.

That those two views can coexist speaks to the strength of this stock rebound and the mindset of traders conditioned by more than a decade of gains. Everyone knows tough times are ahead; no one wants to miss the buying opportunity of a lifetime.