Is 2020 stock market fall repeat of 2008 market crash?

The 2008 Market crash was brutal; Market fell by almost 58% in just 1 year. People have started comparing the 2020 market fall with 2008.

In every bear market; Market gives dead cat bounces where a lot of retail investors get trapped in. Is the current pull back of 2020 same? The market had a decent pull back from the low levels of 7500+ in March.

Market is just kissing distance from 10000 psychological level which doesn't seem achievable as SGX Nifty as of 01-05-2020 is showing a 500+ negative figure.

It remains to be seen how the markets will open on Monday the 4th of May 2020.

This is how market has performed from the start of correction in 2020!

From Economy front a lot of bad news started kicking in :-

The GST revenue collection for the month of March 2020 is 28309 crore
There is 0 sales in the auto mobile sector
Country's largest FMCG company HUL has posted -ve 10% growth and profit for the first time ever.
Country's biggest company Reliance has reported 39% downfall in profits
There are a lot of issues around debt mutual funds which making all the investors nervous.
US jobless claims are shooting up!

Considering all this everyone has a question in their mind- Is the market going to fall in May 2020? Is 2020 stock market fall repeat of 2008 market crash?

There is no question whether - will there be a recession in 2020?. The question is how long the market can sustain the levels of 9000+

For reference this is what happened in 2008 when we had the last global financial crisis recession!

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