Investors have largely ignored the pain on Main Street, including pronounced unemployment, overrun hospitals and battered small businesses. Since the U.S. stock market bottomed on March 23, the S&P 500 has risen 68 percent, shattering all-time records along the way. The rebound reflects Wall Street’s optimism about 2021, but it also underscores the disconnect between the stock market’s wild success and struggling American households. Another major concern is how many small businesses the United States has lost this year. “The stock market continues to reflect big businesses increasing their market share during #COVID19,” Cohn tweeted in August.

Source: Washington Post December 31, 2020 18:22 UTC