Even people who don’t follow the stock market closely are aware that the global economy is weakening and appears to be heading into recession. For those who track the stock market, the signs are ominous: the U.S.A. was the last major market to notch gains this year and, in October, the U.S. market followed the rest of the global markets into an extended slide, which has yet to end.
Just as sobering, key sectors such as oil, banking, and utilities have crashed with alarming ferocity, reaching oversold levels last seen in 2008 as the global financial system was melting down. These sectors crashing sends an unmistakable signal: the global economy is heading into a potentially severe recession and assets will not be rising in value in a recessionary environment. So, better to sell risk-assets, like stocks, now rather than later, and rotate the money into safe assets such as Treasury bonds. Many other indicators of recession are in the news: auto and home sales and global trade are all slumping.
Are we in a repeat of the global financial meltdown and recession of 2008-2009?
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