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18096808

>>18096079
OH FUCK! OH FUCK! OH FUCK!

https://www.barrons.com/articles/why-the-s-p-500-hasnt-hit-bottom-and-could-fall-another-35-51585169263

>In a note to clients on Wednesday, TS Lombard strategists said the market has more room to fall, citing expectations that earnings for companies in the S&P 500 could fall roughly 30%. That decline, and the effects of the economic slump they see, put the fair value of the S&P 500 closer to 1600 to 1800, down as much as 35% from the closing level of 2475.56 on Wednesday.

>The severe downturn isn’t likely to feed into an immediate recovery once social-distancing measures are eased, in part because central bankers don’t have the same amount of ammunition, or room to cut interest rates, as they did at the start of the last financial crisis. At the same time, years of interest rates near record lows have obscured problems on balance sheets.

>Capital spending tends to follow earnings with at least a six-month lag, so the initial hit to profits from efforts to control the virus may hamper growth later in the year, Dumas adds.



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