1) A market correction is deflationary pretty much by definition 2) Inflation is a lagging indicator. The obvious expectation months ago would have been economi

1) A market correction is deflationary pretty much by definition 2) Inflation is a lagging indicator. The obvious expectation months ago would have been economic activity increasing after COVID 3) Valuation is often disconnected from revenue or anything else you'd consider rational, and it has nothing to do with inflation. An equity is its own thing, not a perfect indicator of economic reality