Analysts are quick to point out that October is more akin to a correction as opposed to the start of a bear market.
“The earnings story is flip-flopping between being very good and pretty good,” said Craig Birk, CIO at Personal Capital. “There’s also some optimism that a breakthrough on trade could happen.”
“The drop this month came out of nowhere. Usually that’s a sign of a correction and not a bear market,” he said. “Usually a bear market rolls more slowly.”
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