New York (CNN Business)Turbulence in the stock market can get old fast. But investors may need to get used to the bumpy ride. Smart Take Bad news: 74% of Bank of America’s bear market “sign posts” have been triggered, including a key measure of volatility Good news: The market isn’t yet overheated and banks haven’t broadly tightened lending The takeaway: The market probably still has room to grow, but expect volatility for a while longer Wall Street is delivering a real scare this October. The Nasdaq is on track for the worst month since January 2016. The Dow swung wildly on Tuesday, plunging more than 500 points before racing back. Bank of America Merrill Lynch is warning clients that the roller coaster ride could last awhile — perhaps through 2021. “Expect a long bout of volatility,” Bank of America strategists led by Savita Subramanian wrote in a report published on Sunday. Bank of America keeps a running tally of “signposts” that signal looming bear market. The bad news is that 14 of these 19 indicators, or 74%, have been triggered. Two more were toppled earlier this month: the VIX volatility index (VIX) climbed above 20 and a growing number of… Read full this story
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