The Dow is a forward leading indicator. Wondering how far in others opinion it is presumably looking ahead. They so called experts are calling for over 30% unemployment before this thing is all over. Seems to me the Dow should be down a lot more than it is.
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It depends on whether it's going to be 30% unemployment for a month or 5 years. I think the prices now reflect a relatively short period of instability. Now if we find out that there really isn't a treatment or vaccine and this will happen every year, you should expect a substantial drop.
IMHO, the only reason the markets haven't dropped further is the promises of the central banks to print money and buy assets. Should people starting having problems with either the Fed printing or buying (or the two together), "look out below".
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