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Investors are flocking to the largest US growth stocks as concerns rise over the global economy

2020-02-16 09:45:49       source:CNBC

February 15, 2020

The way markets have been acting this year, treating high-quality American assets as a haven, makes sense. But even a sensible move can reach extremes and create distortions.

The trick is trying to figure out when rational activity takes conditions to a riskier place. It’s unclear we’re there yet.

That’s right — even though the coronavirus outbreak upended expectations for an early-2020 economic reacceleration led by trade and manufacturing — the fact the S&P 500 is at a record high, and the manner it got there, are not illogical.

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