These changes occur gradually over time and can lead to many secondary problems including abrupt loss of appetite and infections. (petsmagazine.com.sg)
This requires constant vigilance, because a modest shift in the uniformity of market internals — what we call «early» deterioration — is often enough to produce abrupt losses, so the «catalyst» is often fully recognized only after the collapse. (hussmanfunds.com)
The accompanying damage is consistent with what John Hussman observed a few months ago in The Risk of Conceding Recession, which noted «Once an ongoing (and in my view, probably deepening) recession becomes broadly recognized, we may observe abrupt losses as the likelihood of more sustained earnings disappointments and much broader default risk becomes reflected in one fell swoop.» (hussman.net)