Markets fell on Friday.
The S&P 500 fell 0.7 percent, the STOXX Europe 600 fell 1.0 percent and the Nikkei 225 fell 0.6 percent.
The announcement of US President-elect Joe Biden’s COVID-19 relief plan on Thursday did little to lift markets.
Tom Essaye, founder of The Sevens Report, said the proposal was “being met by a ‘sell the news’ reaction as markets already priced in most of what was included”.
Indeed, David Neuhauser, managing director of hedge fund Livermore Partners, went further, warning that the market “will eventually start to see factors of inflation take hold” and that could “ultimately pop the epic bubble”.
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