The continuing strength of the stock market even as the coronavirus pandemic batters the U.S. economy has baffled many observers. The Dow Jones Industrial Index fell some 30% in the first three weeks of March as COVID-19 began spreading rapidly globally, but it has since gained nearly 60% to current levels above 28,650. Meanwhile, the U.S. economy shrank 31.7% in the April-June quarter, the Commerce Department reported last Thursday.
