I think it's going to be a rough week...

I think it's going to be a rough week ahead
https://www.theguardian.com/world/live/2020/jun/14/coronavirus-live-news-ew-beijing-cluster-sparks-fears-of-second-wave-as-brazil-cases-top-850000
Guardian Australia’s Greg Jericho has this explainer on what is happening to stock markets at the moment: When the coronavirus hit, stock markets around the world sank as fast as they ever have. Both in Australia and in the US, the market fell about 35% in less than a month.That at least makes sense to people: the economy is about to shut down so you would expect the value of companies’ stocks to fall.But over the past three months the Australian stock market has risen strongly and by Wednesday was back to where it was in February last year and only about 15% below the peak of February this year.In the US things were even “better”. The S&P500 was down just 5% on the pre-virus peaks, and the technology based Nasdaq Index had not only recovered all the losses of February and March it was breaking records.So the bad news is over? We’re back and fully functioning again?Well, no.While there may be some link with reality and the value of stocks, a large proportion of what we’re seeing is a reaction to things seemingly not being as bad as first thought, and also a wilful desire to pretend things are not as bad as they are. Don’t be fooled when the stock market rises: it doesn't always align with realityGreg Jericho Read more