Has the S&P 500 really doubled since 2023? Chris Wood says it is down 21% in gold terms
- Posted on August 28, 2026
- By Business News Today
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- 1 min read
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Has the S&P 500 really doubled since 2023? Chris Wood says it is down 21% in gold terms
Jefferies Christopher Wood highlights a sharp divergence in market returns: while the S&P 500 has doubled in dollar terms since early 2023, it has fallen 21% relative to gold. He warns that efforts to suppress US bond yields could weaken the dollar, boosting alternative assets such as gold and Bitcoin.
