We've updated our chart tracking the periods of order and chaos that have characterized the S&P 500 (Index: SPX) over the past 30 years.
It won't be a surprise, but the index entered into a period of chaos with the arrival of the coronavirus pandemic in March 2020. Through eighteen full months later, the index is still characterized by chaos.
The big question: Is the U.S. stock market in an economic bubble?
- Pro: Jeremy Grantham says U.S. stocks are in a ‘magnificent bubble,’ crazier than 1929 and 2000
- Con: The stock market is not in a bubble as tech innovation drives rapid growth, according to Cathie Wood
If you want to know where we stand on the question, we wrote the definition of an economic bubble.