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It s not just GameStop worrying Wall Street about a bubble - Medicine Hat NewsMedicine Hat News
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It s not just GameStop worrying Wall Street about a bubble
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Stan Choe
In this photo provided by the New York Stock Exchange, Robert Moran, left, works with fellow traders on the floor, Tuesday Feb. 2, 2021. Stocks were broadly higher in afternoon trading Tuesday, but shares of closely watched companies like GameStop and AMC Entertainment were falling sharply. (Colin Ziemer/New York Stock Exchange via AP) February 02, 2021 - 12:53 PM
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.
NEW YORK (AP) 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.
Feb 2, 2021 2:26 PM EDT
NEW YORK (AP) 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 percent 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.
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