Wed, April 01, 2020
The year started with optimism about economic growth and hope that some of the left-behind segments of the market would stage a comeback in 2020. Fear replaced optimism as Covid-19 became a global pandemic. The market response to widespread illness and extreme “social distancing” measures was swift – equities transitioned from bull to bear market in record time during the first quarter. Despite bold moves by governments and central banks, there were few places to hide from the market reversal.