Market Update – August 21, 2020

The S&P 500 hit another milestone this week closing higher than the all-time high set February 19, 2020. At that time, nobody knew that the index would drop 33.9% in just a few short weeks, setting a historical record for the fastest decrease of its kind that ended the longest bull market in history. Fast forward five months, and here we are setting yet another record, but this time for the shortest bear market in history.