Market Losses: Bad, Not Terrible
Source: Yahoo! Finance
Despite the headlines as of the time this article was written (morning of March 13), the market is only down 20% from recent highs. This is not a major decline given the market's recent history.
Source: Yahoo! Finance
Due to 2019's huge gains, we haven't even breached December 2018's lows. Most investors can't recall what caused that decline. Based on the fact one or two quarters of financial results will definitively suffer based on what's already occurred, the impact to the U.S. and global economy is