Add to that the US markets, they have locked down New York and the infection numbers are getting terrifying. Who knows how how low it could go, I've pulled a 75% drop peak to trough here so that is All Ords 1800. Think I'm a pessemist? Steve Mnuchin said 3 days ago that the US could have a 20% unemployment rate if they don't take strong action, and they are really bungling the response due to the idiot they've got in charge. And this isn't a slowdown, this has turned off the economy in a 2 week period.
Unemployment in the US could soar from record low levels to 20% if strong action is not taken to tackle thecoronavirus, the US treasury secretary, Steven Mnuchin, has warned, as officials saidCovid-19has spread to all 50 states and the mayor of New York City accused the president of sidelining the US military as the crisis unfolds.
