Dow slides after the US economy loses far more jobs than expected in March
Jefferies says these 15 stocks make the perfect buy for investors seeking quality, defense, and recovery as coronavirus sends markets spinning
"While today's report doesn't capture the full picture, it is an ice-cold splash of reality, showing the impact of the coronavirus in the government's most reliable labor market statistics," Daniel Zhao, an economist at Glassdoor, told Business Insider."The data we've seen in the last few weeks alone reminds us that the labor market will get worse before it gets better.
Fears of a global recession are now being confirmed, according to Han Tan, a market analyst at FXTM. "Even after the health crisis has peaked, the economic ramifications are set to continue to be a drag on risk assets," Tan told Business Insider. He continued:"Until the virus case count peaks and global economic conditions can find a more solid footing which means the business earnings outlook improves, risk sentiment may only experience fleeting bouts of positivity in the interim, as risk aversion remains the dominant de facto mode in global markets."
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