© Reuters. FILE PHOTO: Empty street is seen in Manhattan borough following the outbreak of coronavirus disease (COVID-19) in New York CityBy April Joyner
NEW YORK (Reuters) – Wall Street analysts and investment managers expect another rough week for U.S. markets, as coronavirus cases and deaths increase in major cities and lawmakers continue to battle over an economic aid package in Washington.
U.S. stocks have already fallen more than 30% from their mid-February peak as the pandemic has spread, with even the safest areas of the bond market experiencing liquidity stress in a market rout not seen since the 2008 financial crisis.
Even so, the pain may not be over yet, analysts and portfolio managers told Reuters on Sunday.
“This is a biological event,” said Nela Richardson, investment strategist at Edward Jones in St. Louis. “The market is a mere symptom of the global pandemic.”
Over the weekend, several states expanded their…
