, Columnist
Be Prepared for a Bear Market
Regardless of what Trump does, a downturn is coming.
Curb your enthusiasm.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Every day since President Donald Trump took office seems to bring a new political shock, so you might be surprised to learn that the stock market is just shy of all-time highs.
The new president may be unpredictable, but that volatility has yet to spill over into the financial markets. But remember, regardless of the president, there’s a high probability that investors will see a bear market during a commander in chief’s time in office. Bear markets are a natural outcome of a complex system such as the stock market, which is driven by emotions that can often take things to the extremes.