The process that is destroying financial markets

In 2018, the variability of share prices and credit spreads has been very high in the United States and the euro zone despite companies’ very positive financial situation. This contradiction between the trend in market prices and in the fundamentals may discourage investors (savers) from holding equities or corporate bonds. This would then lead to a contraction in financial markets and make it impossible for companies to raise financing in these markets. If the decoupling between financial market trends and the fundamentals persists, it could lead to the "end of financial markets" and a return to a situation where banks finance companies.