Mohamed A. El-Erian , Columnist

The Many Culprits in Tuesday's Market Selloff

There were five explanations for the losses, and one big takeaway.

March 23, 2017 at 5:00 AM UTC

Mohamed A. El-Erian is a Bloomberg Opinion columnist. A former chief executive officer of Pimco, he is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE; and chair of Gramercy Fund Management. He is author of “The Only Game in Town.”

So far, so good. Whew.
Photographer: Wang Zhao/AFP/Getty Images

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Tuesday's selloff in stocks was wonderfully brief, reinforcing two hypotheses that have served investors well for several years now: that markets are extremely resilient, and that any notable market dip should be treated as a buying opportunity.

But this should not distract from the information contained in the list of suspects that analysts put forward to explain the first 1 percent loss in the S&P in more than 100 days.