美国有线新闻 CNN 美股迎来牛市10周年 本轮牛市还能持续多久?（在线收听）

Our next story begins with a quote concerning the U.S. Stock Market, "the bull market is showing signs of old age but it's not dead yet." That was a CNN business headline from August 19th of last year. And the bull market it was talking about lives on. Bulls and bears are used to symbolize conditions on Wall Street. A bull market is when prices are rising and it’s one sign that the U.S. economy's doing well. How long will it last? Well there's a saying that bull markets and economic expansions don't die of old age.

They don't just stop because they've been g???oing on a long time. But if major stock indexes like the Dow Jones Industrial Average and the S&P 500 drop 20 percent or more from their recent highs, we'll be in what's called a bear market. The question of whether that will happen any time soon is something no one knows the answer to.

CHRISTINE ROMANS: It is the 10th birthday of the current Stock Market bull run, the longest in history. A bull rally born on a day when no one was celebrating. March 9th, 2009, when the Standard and Poor's 500 tanked to 676.

ZAIN VERJEE: Wolf, more devastating news for investors. The Dow and the S&P are now down at new 12 year lows.

CHRISTINE ROMANS: From recession to recovery. This is what it looks like. The S&P 500 has more than quadrupled. History made all along the way. Stimulus, tax cuts, an auto bailout, a new healthcare law, debt ceiling showdowns and a credit downgrade of U.S. debt. A budget sequester and then Democratic control giving way to a GOP hold on Congress. And ultimately the White House. More recently this. The Trump rally, a 40 percent rise from election day to recent highs, riding a wave of job creation. Tax cuts and slashed regulations. And once again, control of the House shifts back to Democrats. The big question, the only question is will the bull live to see 11 years old?

The S&P 500 lost 6.2 percent in 2018, the worst showing since the great recession. And 2019 is a year with three big challenges, uncertainty about the global economy, particularly in Europe and China. Trade tensions between the U.S. and China have yet go be resolved. And investors are worried about interest rates. But the Federal Reserve has pivoted from scheduled rate hikes to a more market friendly approach of patience which could keep the life of the bull for a little bit longer.