Digesting the virus task force's projections
The S&P 500 is off session lows (-3.8%) with a current 2.8% decline, as investors continue to digest the warning issued by the White House coronavirus task force yesterday.Specifically, the virus task force estimated that deaths attributed to COVID-19 could total 100,000-240,000 in the U.S., even with social distancing. President Trump added that Americans should brace for a "very painful two weeks," as daily deaths are forecast to peak mid-month. The market remains troubled by the psychological effects that these numbers could have on consumers, businesses, and, consequently, an economic recovery. On a related note, CNN is reporting that the White House could soon recommend that Americans wear protective masks in public.