Stocks rethink amid global growth woes
With the iPhone maker among just a handful of companies accounting for more than half of the US stock market’s gains this year, some fund managers and analysts are concerned that the long bull market, which has pushed the S&P 500 index up almost 50% in less than three years, is starting to wane.
They worry, among other things, that the stock market crash in China will cut into global growth; that a stronger dollar will erode into overseas profits for US companies; and that companies are trading at rich valuations after four years in which the S&P 500 hasn’t experienced a 10% decline — known as a correction on Wall Street.
