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Today’s Paper - Tuesday, March 17, 2026

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The Great Divergence: Why Stock Markets Are Decoupling From Economic Reality in 2025

A strange and unsettling phenomenon is defining the financial landscape of 2025. While headlines warn of slowing GDP growth, persistent inflation, and geopolitical turmoil, the S&P 500 and Nasdaq continue to scale unprecedented heights. This is not a typical bull market; it is The Great Divergence—a historic decoupling of financial markets from the underlying economic bedrock. For investors, this creates a perilous and confusing environment where traditional indicators are failing, and a new, more complex set of rules governs market behavior. Understanding this divergence is no longer an academic exercise; it is essential for navigating...

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