Stock-market expert says what many are thinking as Dow sheds 3,600 points in a week: [View all]
‘This market is not normal’
Published: Feb 28, 2020 10:01 p.m. ET
By
MARK
DECAMBRE
U.S. stock market heads for its worst week since 2008
The breadth and intensity of this week’s coronavirus-fueled selloff in U.S. stocks has some analysts scratching their heads.
Thomas Lee, founder of Fundstrat Global Advisors, may be one of the few to acknowledge that something isn’t right with a market that was just enjoying a record close days ago.
“This is not normal, and the market is clearly indicating to us a change,” Lee said in a research report on Friday.
Lee said the oddities playing out in the market, including two and potentially three days of 1,000-point drops in the same week for the Dow Jones Industrial Average DJIA, -1.39% , signifies four things (though his tongue may be planted firmly in his cheek on the last item):
A significant change in economic fundamentals
A significant increase in ‘risk’ to the fundamentals
The market’s financial plumbing is breaking down
A meteor or alien invasion to end global existence has been spotted but its arrival is unknown (or a virus pandemic)
https://www.marketwatch.com/story/stock-market-expert-says-what-many-are-thinking-as-dow-sheds-4100-points-in-a-week-this-market-is-not-normal-2020-02-28
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