高盛：全球策略-市场反弹后该如何操作

14 May 2025 | 5:06AM BST Global Strategy Views What to do after the rally 1. What type of bear market is this? In the aftermath of President Trump's 'Liberation day', the US equity market briefly reached the definition of a bear market, with the S&P 500 having fallen just under 20%, and the Nasdaq by 23%. In our framework, bear markets can be defined in one of three ways: structural, cyclical and event-driven. The structural versions are the most severe; they are generally preceded by asset bubbles and priv ...