Is the stock market in trouble? Historical market turndowns following papal visits
As Pope Francis visits the United States, historical data of visits from his predecessors to the United States were linked to several market downturns in the US.
Papal visits versus the stock market were reviewed.
MUNTINLUPA CITY, PHILIPPINES (Catholic Online) - Pope Francis made his historical visit to the United States on Tuesday. His holiness will have a 6-day journey through Washington D.C., New York and Philadelphia to deliver several Masses for huge crowds, where he will press the government to do more to care for the planet and accommodate migrants and refugees in their country.
Pope Francis visits the United States of America
Business Insider decided to look beyond the historical visit and instead chose to take a peek at the stock market. After comparing the stock market rises and falls after the visit of other popes to the United States, they discovered an interesting pattern.
Following three of four visits from the highest representative of the Catholic Church, there were major market downturns. Pope John Paul II's visit in September 1987 came just a month ahead of the historical Black Monday crash. His visit in January 1999 came only days before the start of the tech bubble.
Pope Benedict XVI's visit in April 2008 coincided with the early stages of the financial crisis.
This year's Papal visit will also be scrutinized not only by Catholics seeking "stricter" and "definite" Christian teachings for marriage and family, but also by the financial market.
So far, the first sign of economic change is the delay of the much anticipated iPhone 6s, which was delayed due to the papal visit.
Copyright 2018 - Distributed by THE CALIFORNIA NETWORK
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