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It's not just GameStop worrying Wall Street about a bubble

New York covid-19 pandemic economy
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NEW YORK – Now, even the pros on Wall Street are asking if the stock market has shot too high. U.S. stocks have been on a nearly nonstop rip higher since March, up roughly 70% to record heights and causing outsiders to say the market had lost touch with the pandemic's reality.

But Wall Street kept justifying the gains by pointing to massive support from the Federal Reserve, lifesaving deliverance from COVID-19 vaccines and efforts by Congress to pump more stimulus into the economy.

Recently, though, some of the market's action has become tougher to explain, and not just the maniacal moves for GameStop. Some investors are so hungry for huge payoffs that they're pouring into investments without knowing what their dollars will go toward.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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