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âThis is where we areâ: Bubble fears are rising on Wall Street
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By Stan Choe
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Now, even the pros on Wall Street are asking if the stockmarket has shot too high.
US stocks have been on a nearly nonstop rip higher since March, up roughly 70 per cent to record heights and causing outsiders to say the market had lost touch with the pandemicâs reality. But Wall Street kept justifying the gains by pointing to massive support from the Federal Reserve, lifesaving deliverance from COVID-19 vaccines and efforts by Congress to pump more stimulus into the economy.
âThis is where we areâ: Bubble fears are rising on Wall Street
By Stan Choe
Save
Normal text size
Advertisement
Now, even the pros on Wall Street are asking if the stockmarket has shot too high.
US stocks have been on a nearly nonstop rip higher since March, up roughly 70 per cent to record heights and causing outsiders to say the market had lost touch with the pandemicâs reality. But Wall Street kept justifying the gains by pointing to massive support from the Federal Reserve, lifesaving deliverance from COVID-19 vaccines and efforts by Congress to pump more stimulus into the economy.
NEW YORK Now, even the pros on Wall Street are asking if the stock market has shot too high.
U.S. stocks have been on a nearly nonstop rip higher since March, up roughly 70% to record heights and causing outsiders to say the market had lost touch with the pandemic’s reality. But Wall Street kept justifying the gains by pointing to massive support from the Federal Reserve, lifesaving deliverance from COVID-19 vaccines and efforts by Congress to pump more stimulus into the economy.
Recently, though, some of the market’s action has become tougher to explain, and not just the maniacal moves for GameStop. Some investors are so hungry for huge payoffs that they’re pouring into investments without knowing what their dollars will go toward. And by some measures, the broad stock market looks more expensive than it did before the 1929 crash.
It s not just GameStop worrying Wall Street about a bubble - Business News castanet.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from castanet.net Daily Mail and Mail on Sunday newspapers.