The Stock Market Has Been Full of Drama in 2022, and It's Masking … – The Wall Street Journal

https://www.wsj.com/articles/stock-market-2022-investing-opportunities-11670277788
There has been no shortage of market drama this year. Real pain has been inflicted. Pessimism is proliferating. Uncertainty abounds. The breathtaking returns fueled by post-Covid enthusiasm have been drained from stocks as a bear market has taken hold.
The drama is understandable. Instability grips the world as the pandemic lingers, inflation swells, violence against Ukraine rages, an energy crisis looms and China shelters. The supply-chain bottlenecks that were expected to have straightened themselves out remain entangled. U.S. consumers are still buying, but their confidence is falling, as prices and escalating wages remain largely unaffected by the interest-rate increases meant to contain them. Corporate earnings expectations are beginning the painful reset to reflect today’s economic reality.    
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