. New York state, the hardest-hit region in the U.S., also reported its first decline in daily confirmed deaths on Sunday.
"The apex in New York state is likely imminent as opposed to one month out," Marko Kolanovic, JPMorgan's global head of macro quantitative and derivatives strategy, said in a note on Monday. "Big data indicated very early on that social distancing is working overall."fell 3.3% to 45.24, the lowest level in about two weeks. Three weeks ago, the VIX hit a record high of 82.69, surpassing the peak level during the financial crisis.
Still, the cases in the U.S., the world's most affected country, topped 347,000 with at least 10,000 deaths, according to data from Johns Hopkins University. "We still believe that the odds are quite high that the lows from March will be retested and probably undercut before this bear market comes to an end," Matt Maley, chief market strategist at Miller Tabak, said in a note on Monday.
Stocks are still in bear-market territory with the S&P 500 about 21.5% off its record high. Many on Wall Street believe stocks haven't fully priced in the potential corporate earnings collapse as the coronavirus outbreak have virtually shut down the global economy.for exclusive insights and analysis, and live business day programming from around the world.
Thinking of all the people who panicked and sold at 2300 and are telling themselves they’ll get back in when it hits that level again. 🙏
What a surprise!! 🙃
Stevie Wonder could have seen that one coming
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