Pat of most modern economic theory around the stock market is slow and steady, sustainable growth. It's a fairly 'liberal' policy choice as you can't, say, tweet something to spike or drop a stock price and benefit (or have those in the know benefit). For example, several economists say that stagnation in the market is not necessarily a bad thing and shooting for the moon in stock pricing by chasing continual growth can lead to companies overreaching or expanding then crashing hard, hurting consumers and their employees worse than the gains created short term.

https://www.wbur.org/onpoint/2020/02/12/economists-slow-econ...

This is in addition to noting the stock market is not a representation of the economy or its health. slow, continual, predictable growth is critical for planning economic and fiscal policy along with preparing for rough times, like when a pandemic shuts down global production.

I often refer back to the stock market or simply inflation rate before the US went off the gold standard and instituted massive reform and regulation of markets. Some years the US would bounce back and forth between extreme negative then positive inflation rates, ex:

https://tradingeconomics.com/united-states/inflation-cpi

Set the chart range to MAX for effect, or see a table of data here:

https://inflationdata.com/Inflation/Inflation_Rate/Historica...

In 1920 inflation was close to 22% in the spring but a year later was about -15%. No way that was helpful for preparing for an economic downturn like we see in the general accepted 10 year business cycle today. Image starting a company and all your initial costs are 20% higher than you planned, then once you get production up and running your goods are worth 15% less! Market stability breeds stability but not high return brokerage accounts.