The market reached its pandemic-induced bottom on March 23, 2020, after a dramatic sell-off that wiped trillions of dollars from global markets. However, swift action by the Federal Reserve, including slashing interest rates to near-zero and launching aggressive asset-purchasing programs, helped instill confidence in financial markets. The federal government also rolled out multi-trillion-dollar stimulus packages like the CARES Act, which included direct payments to Americans, expanded unemployment benefits and forgivable loans to businesses. As a result, major U.S. stock indices began an extr…