Bull Market Comes To An End

The longest bull market ever ended this week as the COVID‐19 (coronavirus) outbreak continued to spread and containment efforts further disrupted the US and global economies. US stocks fell 27% from the February 19 closing high through the March
12 closing low, based on the S&P 500 Index, marking the fastest 20% decline from a record high in history. US stocks were down between 8% and 10% for the
week despite Friday’s rally amid optimism around additional response from policymakers in addition to aggressive actions from global central banks.

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