The Pandemic’s Long-Term Pain Is Just Becoming Clear to Markets
- U.S. stock futures start May with deep declines on earnings
- Trump ratchets up tensions with China on virus claims
April 15: Dalio Sees Virus Pandemic Causing $20 Trillion Hit to Global Economy
The best month for global equities in almost a decade has given way to a poor start to May, stoking the debate on whether the recent surge appropriately accounted for a financial landscape utterly changed by the pandemic.
The latest hit to investor sentiment came from an unlikely source -- megacap tech duo Apple Inc. and Amazon.com Inc. Both reported results that demonstrated resiliency during the economic shutdown, but warned that predicting what comes next is particularly fraught. President Donald Trump also rattled markets by reviving his trade dispute with China as he seeks to blame the nation for the virus’s spread. U.S. stock futures fell 2% as of 7:43 a.m. in New York.