S&P 500 wipes out $4 trillion in its second-worst May since '60s
If euphoria was the concern, you can stop worrying.
With books now closed, the S&P 500 has formally delivered its worst May return in seven years and second-worst since the 1960s, falling 6.6%. For tech traders watching the Nasdaq 100, the experience was only a shade less harrowing than the crash months of October and December.
Peace has been shattered, and for now, those voices calling for a 1990s-style melt-up have gone silent. As the U.S.-China trade spat escalates further and Donald Trump threatens higher tariffs on Mexican goods, this month’s $4 trillion global plunge is making dip-buying perilous.
“Clearly there’s potential for further downside,” Steve Chiavarone, a portfolio manager with Federated Investors, said in an interview at Bloomberg’s New York headquarters. “For markets to really rebound, I now need positive clarity on China, Mexico, politics in general and the Fed’s probably going to have to do something. That’s an awful lot to ask for.”
https://www.msn.com/en-us/money/markets/sandp-500-wipes-out-dollar4-trillion-in-its-second-worst-may-since-60s/ar-AACcRUm
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