Comment: Markets may well confound post-Covid expectations

The performance of the S&P 500 seems to fly in the face of evidence that the US is heading for another Great Depression, proving that the only thing that’s certain is uncertainty

The Fearless Girl statue stands across from the New York Stock Exchange wearing a coronavirus mask. US stock markets rallied last week despite dire predictions. Picture: Getty Images

Though I have spent nearly 40 years studying financial markets, I find them as bewildering, complex and fascinating as ever. At the time of this writing, the most widely watched equity index, the S&P 500, is trading at around 2,878, where it closed on April 27. That was its highest close in six weeks, putting it less than 15 per cent below its all-time high, reached just before the Covid-19 pandemic, and some 30 per ...