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SMLL - Don't Panic! Coronavirus GDP And Unemployment
Direxion Daily Small Cap Bull 2X Shares
"U.S. GDP will contract 30% in second quarter."
Thus blared an 8 April headline from Reuters, apparently intended to sow as much panic as possible.
In the Great Depression, real GDP shrank by about 27% from the 1929 top to the 1933 bottom. So the Reuters headline heralds what amounts to the worst news in US history, if it's taken at face value. Holy cow.
Of course, we should not take it at face value. In fact, a note in small print below the headline reads: