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BUSINESS REPORT: Two days later the U.S. markets are back

Electronic screens post prices of Alphabet stock at the Nasdaq MarketSite in New York, Feb. 1, 2016.
Electronic screens post prices of Alphabet stock at the Nasdaq MarketSite in New York, Feb. 1, 2016. AP Photo/Mark Lennihan, File

On Monday the Dow shed more than two-thirds of one per cent or 176 points, and by Tuesday, that was followed by a loss of more than one per cent, or 360 points, managing to shake more than a few investors with the belief that a long overdue market correction was just ramping up.

Anxiety was building that rising U.S. interest rates and uncertainty over Tuesday’s State of the Union address adding momentum to the downside never materialized, and as with all solid bull markets the recovery Wednesday was swift and decisive.

READ MORE: BUSINESS REPORT: Could the long-awaited stock market sell-off finally be here?

Nothing has really changed except confidence that the recently announced revamping of the U.S. tax code will make a real difference to both bottom-line performances of U.S. corporations, along with putting more money into the economy as a result of pay raises and bonuses going to hundreds of thousands of American workers.

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And with no aftershock anxiety about the Trump speech, the markets are back at it today.

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