When running with the bulls, a stumble is not the time to panic

The nearly decade-long bull market run in the United States seems to have hit a speed bump over the last month. On Oct 24, Standard & Poor's 500-stock index lost its gains for the year after diving 3 per cent. Its performance since then has been choppy, and it sank into negative territory for the year again last week. By some measures, the index had reached the milestone of the longest bull market on record just three months ago.

Asian markets have swooned as well following the US routs. Last month, the Straits Times Index sank below the 3,000-point level for the first time since January 2017 and has mostly hovered within a hundred points of that mark since.

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A version of this article appeared in the print edition of The Sunday Times on November 25, 2018, with the headline 'When running with the bulls, a stumble is not the time to panic'. Print Edition | Subscribe