The stock market may finally be paying attention to market fundamentals, primarily the slowing global economy, from China and Japan in the East to Europe and the U.S. in the West.
Stocks have fallen for the past four out of five sessions. The S&P 500 (^GSPC) closed Thursday at 1,542, or 3% below its record high of just under 1,600, reached a week ago. The Dow Jones Industrial Average (^DJI) also ended lower Thursday, at 14,537, down 2% from its record high of 14,865.
The recent decline in the stock market begs the question: Is the rally over or is this simply a correction in a bigger bull market?
The Daily Ticker put the question to Barry Ritholtz, the CEO and director of Equity Research at Fusion IQ. His answer essentially: not yet.
Related: U.S. Stock Market is 'Overvalued, Overbought and Overbullish': John Hussman
“This bull run will eventually end…[and] the best way to handle that trade is to wait for the market to tell you the run is over,” says Ritholtz. But it hasn’t said that
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