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.
