The market has been buzzing. After nearly tipping into bear territory in April, the S&P 500 index has stormed all the way back to hit all-time highs and is now up about 8% on the year as of July 23.
While volatility has calmed down a bit since President Donald Trump first announced high tariff rates back in April, nothing has been able to slow the market down, despite renewed focus on tariffs, some data indicating the economy is slowing, and increasing concerns about the U.S. government’s fiscal situation. In fact, the market just did some for only the fifth time in 50 years, and history says that a monumental move could follow.