"May you live in interesting times," goes the apocryphal Chinese saying. Whether this is a curse, or a blessing is open to interpretation, as all pithy statements are.
While coming within a whisker of calling the low for the S&P 500, it is fruitless attempting to call short-term market moves.
Investors are grappling with the huge uncertainty caused by the global Covid-19 pandemic. The human and economic impact has been dramatic, both in its magnitude and in its velocity.
The global spread of the coronavirus led to a simultaneous shock on both the supply and the demand side of the affected economies.
The Big Question on coronavirus
Will QE and helicopter money do more harm than good?
Calls for helicopter money
Coronavirus concerns
As the coronavirus spread peaks, persistence and penetration are at this point uncertain.