I agree with you some sectors that you have mentioned have much more room to fall. However, the possibility of earlier than expected recovery in on the card because:We will see how the markets think about these starting tomorrow.
- China is almost back to normal
- India, Indonesia and other large Asian countries have reported only a very few cases. The Middle East countries have stabilized.
- For the first time Italy has reported a lower death rate on daily basis ( 170 on 14 March compared 250 on 13 March) suggesting the worst might be over
- Governments have started releasing significantly large funds to support affected businesses.
- Almost every death is among the elderly and due to other complications than directly due to the corona virus.
- The virus is in every major country except Russia so people will realize that isolating from other countries is not going to help much.
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