Furstenau Wealth Update
September 14, 2020
Last week, the Nasdaq Composite Index set another record.
So far, 2020 has been memorable for many reasons, not the least of which is the incredible speed at which some events have been occurring in financial markets. This year, we’ve experienced:
The end of the longest U.S. stock bull market in history
A global stock market crash
The shortest U.S. stock bear market in history
Multiple record highs for major U.S. stock indices
Last week, we witnessed the swiftest correction on record as the Nasdaq fell by 10 percent in just three days. By the end of the week, the Index had recouped some losses and finished down 4.1 percent. The Standard & Poor’s 500 Index and Dow Jones Industrial Average also finished the week lower.
It would be gratifying if the recent drop in share price steadied U.S. stock markets. However, we are likely to see stocks remain volatile through the end of 2020. The Economist explained: