Love Rush of course. I think here Wall Street is largely reacting to real data. For example, it is easy to track the number of flights over China and people are saying they are way down. Similarly, what goes on in Chinese ports is pretty visible. When ships are cancelled or are turned away because of stacked up containers, the market knows. Last week it was reported that ships arriving in China with refrigerated containers are being turned away because the plugs needed for the containers in the ports once unloaded are all already be being used because the workers (trucks?) needed to move out the previously unloaded containers are not there. I am guessing there are quite a few data points like this. IDK, just throwing this out there.
Exactly. The market can withstand the news that there will be 2% less people in the world by summer, but it can’t withstand the news that the world economy could be down 10% by then, as it could be if Xi can’t coax his people to return to their factory jobs.