Long View of the S&P 500 & Stock Markets of Canada, Japan, China, Hong Kong, India, UK, France, Germany, Italy, Spain

American hot money piling into some foreign markets produced gigantic gains in 2025 (Spain +49%). The S&P 500 Index soared by 16.4% in 2025. Since the Liberation Day bloodletting bottom on April 8, it soared by 38%. Over the past three years of 2023-2025, it soared by 79%. Since the March 2020 low, the index soared by 208%, despite two sell-offs in between. These are huge gains.In March 2020, the Fed unleashed its mega-massive QE program, to outdo all prior QE programs, and cut short-term interest rates to ...