https://www.imf.org/en/Publications/WEO/Issues/2020/04/14/weo-april-2020
The US GDP will contract by 5.9% in 2020, the Euro area will contract by 7.5% in 2020 and Japan will contract by 5.2%.
The stock markets have not fully factored in all these economic contractions as the investors have been too optimistic.
There is not much the US, EU, and Japan can do because they've used up their monetary ammunition as their interest rates are at zero or in negative territory already. Negative interest rates will hurt the financial industry badly.
https://finance.yahoo.com/news/imf-warns-japan-against-deepening-000000940.html
http://sg-stock.blogspot.com/2019/08/a-new-world-unchartered-territory.html
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