The stock market has been so placid that declines of a mere 1.5 percent have been treated like real news. The Standard & Poor's 500-stock index dropped that much on Thursday. Days like that can be unsettling, but in the span of market history, they amount to the slightest of headaches.

The deeper news isn't immediately visible day to day, but it is this: The stock market has been operating in an extremely rarefied world of heightened calm, one that is unlikely to continue. It is as if, after the election in November, Wall Street entered an enchanted zone. That is bound to end.

Comments: Be the first to add a comment

add a comment | go to forum thread