Meet the 'Black Swan'| A bear market is here | Trump cheers Friday's bounce
| EDITOR'S NOTE
Not long ago, it was easy to believe that the cash could flow forever.
The economy was approaching its eleventh year of expansion and the stock market was soaring to new highs. Whenever there was any sign of trouble, investors could always rely on the Federal Reserve for comforting words, liquidity injections and rate cuts.
Euphoria expressed in headlines were perhaps a sign that a downturn was near. A story by CNBC's Jeff Cox, published New Year's Eve, carried this headline: "Don't look now, but Goldman Sachs is saying the economy is nearly recession-proof."
In this edition of Weekend Brief, we review some of the outlooks economists and analysts were offering before the "Black Swan" of a coronavirus pandemic changed our world. Yes, the warnings were there, but so was the exuberance.
Last week's crash ended one of the longest bull markets ever. CNBC's Tom Franck offers a view of bull and bear markets throughout history. And CNBC's Yun Li spells out the odds that the bear market we're in now will lead to a recession.
Meantime, the plunge has decimated hopes for companies looking to launch initial public stock offerings, writes CNBC's Maggie Fitzgerald.
For the latest news on the coronavirus, check CNBC's live blog throughout the weekend.
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THE WEEK AHEAD
YOUR WEEKEND BRIEFING
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