Market & Economic Update: Are Things Really This Bad?
A little excerpt on the first 100 trading days of 2022 from Bespoke, my favorite market newsletter:
“While everyone knows that the U.S. equity market has performed horribly in 2022, did you know that it has actually been the second-worst first 100 trading days in a year since the five-day trading week began in late 1952? Through early trading today (5/25), the S&P 500 is down 17.3% YTD, which ranks second only to 1970 for the worst start to a year when the index declined 23.7% in the first 100 trading days. Not only that, but this year has seen the worst start on record for both the Nasdaq (since 1972) and the Russell 2000 (1979), which have declined by 27.9% and 21.4%, respectively.”
After reading that, my first thought was: Are things really that bad to warrant what, collectively, is the worst start to a year in stock market history?