Market Flash: Investors Remain Torn Between Hopes And Worries

In the first economic data since the coronavirus outbreak appeared, China’s services PMI rebounded to 43 from a historic 26.5 low, an indication that activity was still sluggish despite the end of the lockdown period. PMI in Europe suffered unprecedented collapses. Spain’s fell from 52.1 to 23 and Italy’s from 52.1 to 17.4. The big news in the US was the spectacular surge in jobless numbers. In only 2 weeks, 10 million people filed for benefits, the equivalent of total numbers during the entire subprime crisis.