The stock market has had some crazy gyrations of the past month, sometimes swinging wildly up and down during the course of a single day. These gyrations are normal during times of economic transitions. During the period after the great crash of 1929, the stock market did not go straight down but swung wildly with big rallies and big drops. Some of the biggest up days were in late 1929 and again in 1931. However, the overall trend was down. Our recent experience has been similar although the timeframe has been greatly compressed.
Until we understand the full extent of our economic situation expect the market to overreact to any news whether good or bad.