Haters Everywhere in Stock Market After S&P 500’s Big First Half
- Demand for hedging is up and short sellers are resurfacing
- History shows robust first half generally leads to more gains
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People were already worried about equities six months ago. Now, after the S&P 500 Index defied everything from nosebleed valuations to inflation to post one of the best first halves ever, they’re downright paranoid.
Wall Street strategists, never ones to restrain their enthusiasm when it’s warranted, warn that the gains have played out. Short sellers are circling, with wagers against the largest equity exchange-traded fund rising to the highest level this year. Star investors like Michael Burry have warned of the “mother of all crashes” in meme stocks.