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Fundamentals
We are seeing a lot of volatility because of some recent fundamental news that just came out. US jobless claims soared past 30 million. Europe is also reeling. The crisis is unmatched since the 1930s. There is growing pressure to lift restrictions that are choking the economy. We are beginning to see the ripple-effect damage of this economic bomb caused by the pandemic. American Airlines posted a $2.2 billion loss. US consumer spending plunged a record 7.5% during the pandemic.
There are glimmers of hope. Some new testing of a drug, Remdesivir, is showing