A stock rebound marked by Wall Street's strongest quarter in more than two decades has slowed in recent weeks, as a resurgence in coronavirus cases threatens to derail the economy's recovery from a deep downturn.
- A stock rebound marked by Wall Street’s strongest quarter in more than two decades has slowed in recent weeks, as a resurgence in coronavirus cases threatens to derail the economy’s recovery from a deep downturn.
The S&P 500’s strongest quarterly performance since the fourth quarter of 1998 — during the dot-com boom — was driven by gains in April and May, followed by an overall flat June after Wall Street gave back gains in the second half of the month. Globally, MSCI’s world equity index .MIWD00000PUS has rallied to within 10% of its February record highs.
Much of Wall Street’s gains in recent months has been driven by the trillions of dollars in stimulus from Congress and the Federal Reserve and by investors’ confidence that the Fed is prepared to take additional measures to support the economy and financial markets.
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