caseyresearch.com / Justin Spittler / November 17, 2016
First “Brexit,” then Trump.
In just the last six months, the world has had two “black swan” events. These are rare events that very few people see coming. When these kinds of events happen, the market reaction can be dramatic.
Heading into the year, most people thought Great Britain would stay in the European Union (EU). When it voted to leave on June 23, investors from London to Tokyo were shocked. A panic followed that knocked more than $3 trillion from the global stock market in two days.
Last week, investors were caught off guard again.
Most people thought Hillary would run away with the election. When Trump pulled off the “unthinkable,” no one knew what to do.
At first, U.S. stocks plunged. That was supposed to happen if Trump won. But they quickly changed course. Over the last few days, U.S. stocks have broken out to record highs.
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