, Columnist
Markets Must Navigate Well Beyond One Bounce
The selloff’s damage to the tectonic plates of global finance won’t be clear for weeks.
Far too early to think it’s over.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
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The market vocabulary for events like we’ve just witnessed is a tad distasteful. When prices rebound after a big fall, it’s referred to as a “dead cat bounce” because even a dead cat will rebound if you drop it far enough. Let’s instead look at an oceanographic metaphor to try to understand what’s happening; specifically, the science of tsunamis.