, Columnist
The Stocks Rotation Ride Is Real, and Violent
There’s no room left for doubt that a major shift is under way.
We’ll have to endure plenty more of this.
Photographer: Alexander Hassenstein/Getty Images
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Last November, when excellent vaccine test results sparked a surge in stocks that had suffered most from the pandemic lockdown, it was still possible to doubt whether there had been a true market rotation. The initial drama was followed by a month or two of dithering. That doubt is over. The market is unquestionably going through a major shift. The question is how long it will continue.