The US stock market is sliding in what may or may not presage an extended decline. Whatever unfolds in the weeks and months ahead, the first order of business is recognizing that we’ve been here before by putting the current correction into historical perspective. There’s nothing new under the sun for market corrections, but it can appear otherwise if you’re overwhelmed with recency bias.
* Russia says it will “retaliate” if Finland Joins NATO
* Finland wants to join NATO. Sweden may be next
* Fed Chair Powell says soft economic landing may be beyond Fed’s control
* US housing market showing nascent signs of cooling
* US wholesale inflation continues to accelerate in April
* Oil giant Saudi Aramco overtakes Apples as world’s most valuable company
* How will the next recession unfold? Here are several possibilities: