Finance
Wall Street During the Pandemic: The Impossible Is Now Commonplace
One lesson from the market’s relentless climb is that sometimes the rules don’t matter.
Photo illustration by 731; Photos: Getty Images (11); Shutterstock (5); AP (2)
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Despite the seemingly endless supply of brainpower and cutting-edge technology that’s put to work in financial markets, at times it feels as if nobody knows anything.
That’s perhaps the hardest-to-digest lesson learned—or at least reinforced—from the past year and a half, during which the U.S. stock market doubled at the fastest pace since 1932: The accrued wisdom of Wall Street can be a swiftly depreciating asset.