US stocks close lower as Covid-19 cases increase – With insights from Wall Street Journal
Mr Market is like a manic-depressive who rejects medication. That's something rational investors consistently apply to their advantage. Right now, the stock exchange's voting machine is being panicked by a surge in confirmed Covid-19 infections, paying little attention to the modest bump in mortalities which remain far below those recorded during earlier stages of the pandemic. With symptoms so mild for 80% of those infected that they don't know they've caught the virus, when governments expand testing (as they're doing) confirmed infections must also rise. Mr Market is having nothing of this logic and yesterday knocked share prices hard, as we read in this report from our partners at the Wall Street Journal. – Alec Hogg
THE WALL STREET JOURNAL
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