US Stock Bulls Ignore 100 Years of Recessions at Their Peril
- There’s been no US recession without a market slump since 1929
- S&P 500 is up more than 8% this year, reversing March tumble
Wall Street traders in 1929.
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The chorus of stock bulls predicting US equities will weather a recession has got it wrong, if history is any guide.
Optimists say stocks hit this cycle’s low in 2022 and an economic contraction this year or in early 2024 would only dent the rebound. The market backs them up: The S&P 500 Index has gained more than 8% so far this year, quickly reversing the slump after Silicon Valley Bank’s failure in March.