I can very well see this happening. But it is also possible that we go through something like the "Nasdaq crash" where the big tech stocks crashed like crazy while gold mining stocks actually rose or stayed flat during the crash. The reason for this would be that if we have a bad recession on the horizon then by all logic growth stocks and tech stocks should suffer, but at the same time, the pressure will grow to lower interest rates which would support miners very much if inflation is still somewhat above the Fed's target levels. Stagflation has been a very good environment for miners, historically. Of course, if we have a very bad stock market crash where we are facing a liquidity crisis or freezing of the credit markets then for sure every single stocks would most likely suffer.
I think a very severe stock market crash / liquidity crisis would most likely need a real "black swan" type of event to happen.
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