, Columnist
Stocks Manage to Be Irrationally Exuberant in a Pandemic
Are we sure we’ve accounted for all the risks?
Whee! Hope there's a net.
Photographer: AGUNG SUPRIYANTO/AFP/Getty Images
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A disquieting feature of this pandemic has been the optics of the stock market soaring while people die and lose their jobs in unthinkable numbers. To be fair to the stock market, it’s not meant to be a barometer of the economy or public health. But it appears to be flirting with danger, and not just of the bad karma variety.