A night of horror in Paris, similar to attacks in Spain in 2004. London in 2005, Moscow in 2002, Mumbai in 2008, Boston in 2013, Oklahoma City in 1995, Columbine in 1999, the Munich Olympics in 1972.
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US stocks are 23.8% higher than last year's low October 3, and 92.6% above the March 9, 2009 low. The Dow Jones Industrial averages and S&P 500 are at levels last seen May 2008, before the financial crisis began in earnest.
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Since our commentary of last week, US and world stocks markets slid another 5% on average, taking most to within a percent or two of the official definition of a bear market (a decline of 20% from the previous peak).
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