From the Wall Street Journal’s “Markets Stabilize After Worst Fall for Stocks in Months” posted early Tuesday:
U.S. stock futures pointed to a rebound Tuesday, after major indexes tumbled Monday on concerns over the spread of Covid-19 variants and potential setbacks to the economic recovery…
Investors have grown concerned over the Delta coronavirus variant, prompting a reassessment of the economy’s prospects. Despite this, the three major stock indexes each closed only around 3% down from their all-time highs Monday, underscoring the strength of the rally that powered equity markets in the first half of the year.
“When you get a selloff like we had yesterday, there are certainly going to be some investors who are going to see that as an opportunity to invest for the longer term,” said Kiran Ganesh, a multiasset strategist at UBS Global Wealth Management. “Especially where the 10-year [Treasury] yields have gone, that still points to the default position for investors as long equities, because there are simply very few other options.”
My take: I’m trying to picture the Venn diagram of Apple shareholders who are also unvaccinated by choice.