That may happen, in fact I think it’s a strong possibility, but once the selling is done there will be flight to safe haven assets like PMs. The question then becomes who can hold their nerve while everything is crashing around them.
I’ve sold or financial and consumer discretionary stocks to rotate into Commodities, , Health,Consumer Staples and Technology, ready for the next crisis. I’m prepared to miss out the gains on financials and discretionary as I think they will fall hard on a second wave or when everyone realises how badly the consumer has been effected through the next couple of quarters.
Anyway that’s just my opinion and what I’m doing, we’ll see what happens in the next six months!