Economic and Market Commentary - April 2020Submitted by Tradition Advisers on April 16th, 2020
Choose an adjective, the past six weeks have been unrelenting, anxiety-provoking and downright scary. The spread of the coronavirus, combined with disarray in the energy markets, abruptly brought the decade-long bull market to an end on March 12th, when the S&P 500 index fell 20% below its February 19th all-time high. But that was only the beginning. From February 19th to March 23rd, the U.S. stock market saw the fastest meltdown in its history, producing a loss of 33.9% for the S&P 500.