| EDITOR'S NOTE
The coronavirus pandemic sent 10 million Americans filing for unemployment benefits in the last two weeks of March. One day they had steady jobs in a growing economy, the next they were told to stay home.
Next week likely will bring millions more jobless claims, CNBC's Patti Domm writes.
Investors know that this tally is going to be bad. They know upcoming corporate earnings will be bad. They also know how the Federal Reserve and the U.S. government are responding to a shuttered economy. What they don't know is how long the coronavirus pandemic will rage and how long it will take for the jobs, and then the economy, to come back.
Amid this uncertainty stocks finished the week with a loss. The Dow Jones Industrial Average is down 28% from its high. The S&P 500 is down more than 26 percent. The Nasdaq is off more than 25%.
This bear market likely won't go away until humanity gets a handle on the virus.
"I think it's a wait and see with a drift to the downside," said Lori Calvasina, chief U.S. equities strategist at RBC. "One thing we now need is a decline in the number of virus cases in the U.S."
Thanks for reading Weekend Brief. Email your thoughts at EveningBrief@nbcuni.com or message me on Twitter @tellittoal.
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THE WEEK AHEAD
YOUR WEEKEND BRIEFING
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Sabtu, 04 April 2020
Losses likely to continue next week | Oil set to 'crater' Monday | Latest on coronavirus
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