Monday, May 16, 2022

David Morgan: Everything is Selling Off


As the recovery from the pandemic took off last year, everything investors touched turned to gold. 

The US stock market leaped 27%. Bitcoin rocketed to a record high. 

Commodities like oil and copper soared. Even alternative investments, from trading cards to wine, experienced a boom. 

Now, the glee of the "everything rally" has been punctured, triggering the worst sell-off since 2020. 

The S&P 500 churned again on Monday, finishing below 4,000 for the first time in more than a year. The Nasdaq Composite plunged 4.3%. 

It's now more than 27% below its recent peak. It wasn't just stocks that got pummeled, either. 

Crypto's took a blood bath. Many are trading more than 50% below their record highs.

- Source, David Morgan