Everyone Who Hates the Stock Market Is Feeling a Lot Smarter Now
- Ratio of put-call equity options highest since Dec. last week
- Stocks sent into tailspin as U.S.-China trade tensions rise
Source: Bloomberg
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U.S. stocks have hit 13 records this year and generated $5 trillion of wealth. They’ve stood up to sagging earnings, slowing growth and a surging dollar. The S&P 500 is headed for what could still easily be its best year in six. And yet, sit down with traders and fund managers, and what invariably comes pouring out is frustration.
For anyone wondering why, we give you Aug. 23, 2019. With equities four-fifths of the way to the first up week since July, a flurry of taunting tweets from President Donald Trump stopped bulls in their tracks, triggering the third drop of more than 2% this month. The index just matched its longest streak of weekly declines since 2011.