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S&P 500 Hits Record High, Marks End to Shortest Bear Market

The growth was fueled by economic stimulus packages that have come in response to the pandemic, as well as hope for a rapid economic rebound.

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Mario Tama/Getty

By Madeline Charbonneau

The S&P 500 hit a record high at the closing bell Tuesday, marking the end of the bear market that began in March with a major selloff resulting from the COVID-19 pandemic. The index had been nearing the record for days, but had not officially passed the record mark until Tuesday, closing up 0.2 percent. The milestone officially designates the bear market resulting from the spring selloff the shortest in history at 1.1 months. The market’s climb was fueled by fiscal and monetary stimulus that came in response to the coronavirus pandemic and the hope of a rapid economic bounceback.

Read it at CNN

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