The contrast seems grotesque. A deadly pandemic has shut down the global economy and left millions of workers furloughed, fired, or stranded without gigs. The future for most businesses looks uncertain to dismal. Yet U.S. stock indices are near all-time highs, at giddy valuations comparable to the 2000 dot-com bubble and 1929. Foreign Policy researched but could not find a moment in financial history that remotely resembles today—so we asked a panel of leading experts to help us make sense of the markets, and what their state tells us about the economy and society going forward.