Identify the issue with this statement: "From February $2020$ to April $2020,$ global stock markets lost $20$ to $35$ percent of their value. That's all the evidence you need to know it was a bubble."

Multiple Choice

Global markets remained calm $($with no substantive changes in their value$)$ during that time.

Global markets did not decline during that period, they increased.

The cause of the $2020$ stock market decline was about fundamentals. COVID$-19$ was predicted to reduce corporate profits.

The markets were closed during that time.