MarketWatch: “Coronavirus stock-market plunge shows investors are fast-forwarding the ‘2008 playbook,’ analyst says”By admin_45 in IN THE NEWS
Excerpt from MarketWatch quoting DataTrek's Nick Colas:
.... "The stock-market plunge triggered by the global COVID-19 outbreak shows investors are taking their cues from the 2008 financial crisis, but at an accelerated pace, according to one Wall Street veteran.
In a Monday note, DataTrek Research founder Nicholas Colas argued that while the coronavirus pandemic presents a very different threat than the financial crisis, a look at price action shows that investors are “locked in the same call-and-response feedback loop between financial markets and D.C. politics as in 2008.”
Colas argued that market participants are running the same “2008 playbook,” but at an accelerated pace because that prior crisis history is still fresh in mind"....
Read the full article here on MarketWatch!