April 13, 2020 | Newsletters
A. First Quarter Global Review
What a quarter! US equities declined by over 20% during the quarter as concerns over the coronavirus spread around the world. Confirmed US cases of the coronavirus rose from 150 to over 100,000 between March 4th and March 27th and have continued to rise in April topping over 500,000 as more extensive testing takes place. The response of governments around the world including, the US government, was to shut down large portions of the economy and tell people to stay home. Needless to say, this response has been devastating to the economy. In the US alone, jobless claims jumped by over three million in the last week of March and have continued to grow at over six million per week into April. To say that these numbers are unprecedented is an understatement.
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