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After the quickest bear market drop in Wall Street’s history in March, Bitcoin has fully recovered. US stocks notched their biggest monthly rally in April since 1987, cutting the coronavirus-driven losses on the S&P 500 to about 10% year to date. …


Team GSR | Feb 2020

Global Market Chaos

The world economy has now entered a substantial recession due to the Coronavirus outbreak. The S&P 500 recorded a 20% drop in just 13 days, twice as fast as The Crash of 1929. This is the quickest bear market drop in financial history. With no liquidity in sight, every asset class saw substantial losses. It is still too early to estimate what the full effects will be, however it is clear they will be considerable, prolonged, and painful for many businesses and individuals.

Before the Coronavirus the US economy had expanded for more than a decade and added jobs for 113 straight months. Stock markets were consistently hitting new highs. Despite this, economic growth had slowed both globally and in the US, and there were clear indications of an inevitable downturn looming. The combination of this pandemic and over-extended nature of the global economy led to a collapse of colossal magnitude. This in turn has spawned one of the largest stimulus packages ever designed. The US government has so far actioned $6 trillion in response. …

About

GSR Team

Founded in 2013, GSR is the leader in digital asset trading.