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If the first few days of the year portend what’s to come, 2016 is looking awfully gloomy for the stock market.
Stock prices around the globe fell relentlessly in January and that downward momentum was carried into mid February. By February 12, the stock market had fallen by more than 20% from the peak it achieved in the summer of 2015, which by definition means the stock market has become a bear market (i.e. a market in which prices consistently go down).
Although most sectors of the stock market ...