The stock market is acting like a rapid recovery is a slam dunk. It’s not

By Matt Egan

The S&P 500 spiked a stunning 27% between March 23 and Tuesday. It was the biggest 15-day rally in 87 years, according to Bespoke Investment Group. The Dow skyrocketed even further, gaining 5,300 points, or 29%, in that span.

The recent rebound was driven by relief over the emergency actions taken by Washington to avoid a full-blown financial crisis, or even a depression. Investors are encouraged by signs that the coronavirus may be at or near a peak, potentially allowing businesses to re-open next month.

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