Wall Street is as baffled by stocks as ever

Fast dip: Traders are seen working on the floor of the New York Stock Exchange. Stocks that fell last week sent the S&P 500 to its longest streak of weekly slides in 21 years. — AFP

NEW YORK: Seven straight weeks of losses for American stocks and now a narrowly averted collision with a bear market have left Wall Street prognosticators as lost as they were during the coronavirus crash.

While this episode may lack the pandemic’s shock, it makes up for it in the sheer number of cross-currents.