U.S. stocks staged an impressive reversal on Feb. 24 — including a 950-point intraday move to the upside for the Dow Jones Industrial Average
DJIA,
— but there’s too much eagerness to declare that the U.S. market has bottomed.
Market bottoms more typically are made when despondent investors throw in the towel. Yet the narrative being used to support the “bottom is in” belief in the Russia-Ukraine conflict is that stocks spring back quickly from geopolitical crises. As MarketWatch reported earlier this week: “Despite near-term volatility in the wake of geopolitical events over the past three decades, ranging from terrorist attacks to the start of…
