Say, whatever happened to that stock market crash everyone was talking about just three weeks ago? It managed to get its own Wikipedia page, alongside the more famous crashes of 1929 and 1987, but somehow it seems to have left behind few traces in the stock market of just weeks later.
Wikipedia chronicles market crashes as occurring in only three other world historic instances: 1907, 2008, and 2020. As time passes, we seem to be defining catastrophe downward.
Wikipedia tells me that the Crash of ’25 is still ongoing but checking the ticker I see a different story.
The S&P 500 index was up today and up over 5 percent for the week. The index is still down for the month and down for the year-to-date. But looking back over the past 12 months, the index is up nearly 10 percent. In most years we would have counted that as a win.
The embattled head of DOGE, Elon Musk, and his embattled carmaker, Tesla, have seen an even more remarkable turnaround. Tesla stock was up almost 10 percent just today and up nearly 25 percent for the week. It’s still down, year-to-date, but the stock is back up to the level it held around the time of the 2024 election.
I guess Armageddon will need to be postponed, at least for a little while.
