Are Black Lives Matter protests causing stocks to plummet?
The Black Lives Matter protests following the George Floyd killing in Minneapolis spread unrest across most of the nation. That has had little apparent effect on stock market prices, which are influenced much more directly by financial influences such as Federal Reserve credit policies or commodity price shocks. The NASDAQ composite index hit an all-time high June 10, and other benchmarks have returned near the levels they hit early in 2020 before the coronavirus spread to the U.S.
Longtime market observers aren't surprised. Indexes showed growth during civil-rights protests in the 1960's, Vietnam War protests a few years later, and the Rodney King riots in 1992. “At the end of the day, the market has no conscience. Investors are simply trying to make money," CNBC's Jim Cramer said.
