Catch your breath and stay hydrated, stock market investors. It’s only halftime, and the second half of 2020 could go either way.
During the first six months of the year, stocks experienced their biggest quarter-to-quarter swing in more than 80 years. First, the coronavirus pandemic and an unprecedented shutdown of the economy sent stocks on one of the fastest declines on record. Then, giant helpings of government stimulus not only stopped the sell-off but sent stocks charging to their best quarterly performance in more than two decades.
Where they go next is a mystery. There’s so much uncertainty about the coronavirus crisis that roughly 40 percent of the S&P 500, about 200 companies, have withdrawn their customary forecasts about how their businesses will perform in the months