Oh, the financial press loves their dramatic headlines. Sometimes in order to make the stock market more interesting, you have to give people a little bit of whiplash.
Whew! What a difference a day makes. Yesterday, it was the “best day in 7 weeks.” Today, it’s the “worst month since 2008.”
Overall, the market is still moving sideways, although we are getting a bit of a drift down and things might change especially as the Fed raises interest rates to cool off inflation. Remember, inflation cools off when the economy cools off. That’s the dance. Go too far to stop inflation and you can push the economy into a recession.