JP Morgan forecasts US GDP to shrink to -2% in Q1 and -3% in Q2 respectively.
Goldman Sachs forecasts S&P 500 eps growth to shrink in Q1, Q2 & Q3.
However, the most important news is that covid-19 is 10x more lethal than US flu.
https://www.cnbc.com/2020/03/11/top-federal-health-official-says-coronavirus-outbreak-is-going-to-get-worse-in-the-us.html
Trump had stated that the US flu killed 37,000 people in the US in 2019. A top US health official has stated that covid-19 is 10x more lethal than the US flu. If covid-19 is 10x more lethal, that will mean this virus will kill 370,000 people in the US. This outbreak has just begun.
The US death toll is just 41 now as we speak. Therefore, there will be a lot more deaths to come.
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