The striking thing is how late the market moved

2026-09-15 · marginalrevolution.com

Here’s the S&P 500 (daily close) with the key COVID and policy events marked; the numbered key is below the chart. Event key: Dec 31 – China reports the Wuhan pneumonia cluster to the WHO Jan 21 – First confirmed US case (Washington state) Jan 23 – Wuhan locked down Jan 30 – WHO declares […]

Here’s the S&P 500 (daily close) with the key COVID and policy events marked; the numbered key is below the chart.

Event key:

Dec 31 – China reports the W...