/biz/ - Business & Finance

>>17872191
>worst than the 1929 stock crash
Not yet. So far only 1 circuit breaker has been hit and that's the -7% one.
For it to be as bad as the stock crash it needs to hit the -7%, -13%, and finally the 20% breaker.
If it hits the -20% breaker you can pretty much guarantee most publicly traded businesses will go under and you will lose your job.
What I'm saying is that you know all those 401ks, pensions, roth iras, etc? All of that will be wiped out by 50% and most will be wiped out by 75%.
You will see people nearing retirement consider suicide. This is a very real thing and it's no joke. If you are young or have no retirement then nothing will change for you unless you have a non-STEM job.
From what my company sees, there will be a reduction of 30% after CoronaVirus ends. Right now they can't lay anyone off because you can sue them if you contract the virus.