RBC: The world may be looking at “something more severe than a recession”
The current economic dislocation is not an isolated event. Though the present episode has been triggered by the coronavirus outbreak, the current chaos has its roots in the 2008 Crash, and beyond.
The median and average recession-related market decline sees the S&P 500 plunge 24% and 32%, peak to trough, respectively, RBC research shows. And with the broad index already down about 28% from its record close in February, it looks like investors think the U.S. is headed for a significant downturn in economic output.