When Elon Musk announced his intention to buy Twitter almost 90 days ago, the world — and financial markets — looked different.
A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.London When Elon Musk announced his intention to buy Twitter almost 90 days ago, the world — and financial markets — looked different.
The S&P 500 was 14% higher and had yet to enter a bear market. The war in Ukraine and inflation concerns had pushed investors into selling mode, but sentiment hadn't collapsed. And Tesla, the electric carmaker that's the main source of Musk's wealth, was about to announce record profits. Wall Street and Corporate America's mood has changed since then. US stocks just closed out their worst start to the year since 1970.
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