Skip to content

This Type of Day Is Price of Progress in Post-Pandemic Stocks

  • S&P’s one-day decline of 0.5% weighed against year’s 17% gain
  • ‘No one goes broke taking profits’: Sit Fixed Income’s Doty

The Nasdaq 100 Index trades for 38 times earnings. Abby Joseph Cohen says it’s a market with “no margin for error.” It’s only July, and the S&P 500 Index has put in a gain that most fund managers would consider a stellar year.

So when big drops like Tuesday’s land with no obvious bad news to explain them, it’s useful to consider how far the market has already come.