Compared to the activity of the stock markets over the past five years, the last few months has been an unusual time. During those three months the markets have (for the moment) stopped going up. After a 4% correction in late summer, a recent September-October pullback has been more significant, falling nearly 8% The last week we saw a sharp reversal of this decline as markets erased about 5% of those losses.
David A. Pace, CFA
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