Economics
Stocks So Many Love to Hate Buoyed by Fed’s Jobs Priority
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Five years after the credit crisis, equity markets are showing zero tolerance for bears.
The Standard & Poor’s 500 Index’s 5.8 percent drop between Jan. 15 and Feb. 3 prompted hedge funds to push short sales to the highest level since 2012 and spurred the fastest withdrawals from exchange-traded funds in more than a year. Both moves backfired amid a three-week rally that restored $1.5 trillion to American share prices.