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The Stock Market Dropped Because There’s Something Scarier Than Rate Hikes

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It was like a splash of cold water to the face, but there’s reason to be optimistic about the stock market in the weeks and months ahead.

The market was making headway this past week, shaking off inflation and rate-hike fears and the specter of Omicron. At Friday’s peak, the S&P 500 was up 5% from its Jan. 27 low, when Federal Reserve Chairman Jerome Powell spoke and spooked investors. And then came a double whammy on Friday afternoon: Russia and vaccines.

The…


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