
Has the stock market hit bottom? History is a guide
CNN
US stocks soared Wednesday, but the S&P 500 is still trying to climb out of slump instigated by President Donald Trump’s trade war.
US stocks soared Wednesday, but the S&P 500 is still trying to climb out of slump instigated by President Donald Trump’s trade war. After hitting a record high in February, the S&P 500 dropped into correction in March as Trump unveiled his plan for tariffs. The benchmark index as of Wednesday was still down 12.5% from its peak two months ago. (A 10% decline from a peak is considered a correction. A 20% decline from a peak is considered a bear market). The market has shed $6.5 trillion since its record high in February, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. As stocks have gyrated, investors are wondering when the market might find a bottom. The truth is: No one can know for sure. The market hit its lowest closing price this year on April 8, down 18.9% from its February peak. The S&P 500 has yet to test that low again, and it’s anyone’s guess whether the market continues climbing higher.

Predictions from mainstream economists were dire after President Donald Trump launched his tariff campaign just a couple weeks after he began his second term in office: Prices would rise — sharply — they said, reigniting an inflation crisis that tens of millions of Americans had elected him to solve.