Has the pain trade in markets begun?

The Dow Jones Industrial Average rose 58.46 points, or 0.24 percent, to 24,290.05, the S&P 500 lost 2.78 points, or 0.11 percent, to 2,639.44 and the Nasdaq Composite dropped 72.22 points, or 1.05 percent, to 6,775.37.

WITH markets in the throes of volatility and overstretched valuations, the pain trade reflecting sudden downward reversals, may have begun.

Despite bullishness over growth and corporate earnings, the markets are dogged by issues related to trade, inflation, technology, geopolitics and the latest buzzword is “trust.”