[Farm93]

I think a drop of that magnitude was "priced in" as they say.

BC

The markets are already pricing in a lot of deaths, a lot of economic hardship and a lot of government stimulus.  

As long as large companies can get access to easy money and/or small competitors continue to fail and/or international markets are able to maintain their new normal then stock markets can be OK for the large publicly traded companies with global reach.

In my world, I have never purchased so much from Amazon (delivery) and Walmart (curbside pick-up), and so little from local and regional businesses.   So my purchase behavior in the COVID era has been great for AMZN and WMT and awful for everyone else. 

In time even the bigger USA companies will feel the pain as the easy money will have to slow eventually and the former employees of those defunct smaller companies will not have money to spend.  

The political situation over the next ~100 days is also already priced in I suspect.   I would expect in October statements from Biden will begin to move financial markets more than statements from Trump given that the markets will become more confident in their expectations of a different type of COVID19 management in 2021.

[Farm93]

I think a drop of that magnitude was "priced in" as they say.

BC

The markets are already pricing in a lot of deaths, a lot of economic hardship and a lot of government stimulus.  

As long as large companies can get access to easy money and/or small competitors continue to fail and/or international markets are able to maintain their new normal then stock markets can be OK for the large publicly traded companies with global reach.

In my world, I have never purchased so much from Amazon (delivery) and Walmart (curbside pick-up), and so little from local and regional businesses.   So my purchase behavior in the COVID era has been great for AMZN and WMT and awful for everyone else. 

In time even the bigger USA companies will feel the pain as the easy money will have to slow eventually and the former employees of those defunct smaller companies will not have money to spend.  

The political situation over the next ~100 days is also already priced in I suspect.   I would expect in October statements from Biden will begin to move financial markets more than statements from Trump given that the markets will become more confident in their expectations of a different type of COVID19 management in 2021.