Economy crash =/= stock market crash?

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How connected are national economies, and indeed the global economy, with the international stock markets?
I've heard it said that the stock market does not reflect the economy.
Additionally, wealthy people and institutions, including pensions etc, have to put their money somewhere, so this will presumably mean that stock markets will always have investors and will ultimately keep going up.
Disclaimer: this is notwithstanding the fact that Lloyds, BlackRock and other financial institutions are buying up residential properties at a rate of knots, which perhaps doesn't bode well for the stock market going forward...
I've heard it said that the stock market does not reflect the economy.
Additionally, wealthy people and institutions, including pensions etc, have to put their money somewhere, so this will presumably mean that stock markets will always have investors and will ultimately keep going up.
Disclaimer: this is notwithstanding the fact that Lloyds, BlackRock and other financial institutions are buying up residential properties at a rate of knots, which perhaps doesn't bode well for the stock market going forward...
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Correct. Markets have crashed during positive economic periods and grown during negative economic periods.
Which reminds me of one of my old bosses. He told me once that his girlfriend accused him of cheating, and that he had said to her "Prove it, you haven't got any evidence!" Strangely, this did not convince her. Perception is everything.
A few months ago I compared growth of US economy, UK economy and Chinese economy over the past decade using worldbank data to see how they compared.
Compound economic growth from start 2010 to end 2019 -
UK 20.3%
USA 25.3%
China 109.6%
Over that period the Shanghai composite and FTSE100 basically went nowhere. Other UK indices faired somewhat better, but were hardly spectacular compared with the S & P 500, which tripled in value during that period despite fairly mundane economic growth.
So my conclusion is there is sometimes no correlation!