Full impact not yet hit.
I'm guessing the sequence will be:

Airlines, hotels, O&G defaults -> Banks affected
Corporate defaults -> Banks affected
Unemployment -> People sell stocks to pay for necessities
Stock prices down -> Investment firms on leverage go bust
People dying -> Property prices fall

Might be a deflation.
Those with cash win

Already happening.
https://forum.lowyat.net/topic/4928691
FYI, sales agents can't even meet clients to sell properties.
Might last a short while, might stick for few months.

If this drags on for some time, people will lose their jobs and this will cause social unrest, especially in the capitalists countries.
Already Australians are feeling the pinch.

New York has 5% of Covid-19 cases worldwide as city becomes battlefront
State now has 15,000 cases – around half of US total – with residents of New York City facing further lockdown from Sunday evening
https://www.theguardian.com/world/2020/mar/...rldwide-covid19

Beside all this, in recent years there is one more backing up US dollar. US technology.

US dollar are not backed up by gold standard, but it is backed up by its military, petrodollar , trading ( for most of the good and commodity ), and recent years is technology. That's why 5G emergence from china is a threat to US not only by the technology itself, in somehow financial perspective as well.

Hi bro,....  

Well,... I have done the following :-

1) Took profit on Frasers Centrepoint Trust when I started becoming suspicious,... I held this counter for a few years.

2) Took profit on Netlink NBN Trust, held for a few years too.

3) Cutloss on Lendlease GCR yesterday when it rose to 0.64,...

4) Over many buys, bought more of and averaged-down the US-, European- and UK-based SG REITs.

5) Averaged-down Sasseur REIT.

6) Averaged-down Capital Mall Trust.

Thinks that abt covered it all,... don't know if I have made money,.. because I poured back everything into the mkt,... and still holding cash now,...

Bought too slowly,...

Ok bro,... you sold 3/4 REITs,... what are the ctrs that you did not sell, that makes up the remaining 1/4 ?

There are just so many theories,... you are right,... I have one theory that I am subscribing to for now : the STI will not touch 2200 points again due to the current pandemic and due to the current low oil price. Hence, if the STI reverses again,.. as it goes near to 2200, I will buy again.

I think it's more of whether an investor is KEEN on investing or not. Whether is necessary for one to invest for income in the long run or not,...

If the 'need' is there, and not just a want, I think an investor will try the moment 'signs start to appear', regardless of how future events may turn out.

This need may be for additional income, or necessary income for survival, or to set a track record for himself (and his co-investors if he 'helps' others to invest) or even for a reason as simple as to blog for the world to see.

Added : I have been catching falling knives too. I even had to top-up two margin calls recently,...

Global $6 Trillion Slump May Be Optimistic, Economists Warn

That a contraction of this magnitude is based on “optimistic assumptions about both the outbreak and the recovery” underscores the challenge facing policy makers trying to cushion the blow of the pandemic. Under such scenario, U.S. gross domestic product will shrink 6.4%, while euro area GDP is set to contract 8.1%. Japan will shrink 4%, while China will expand at the slowest pace on record.
https://www.bloomberg.com/news/articles/202...nd=premium-asia

Major markets in Asia Pacific jump as much as 49% from their March lows
PUBLISHED FRI, JUN 5 20202:22 AM EDTUPDATED FRI, JUN 5 20204:44 AM EDT

Major markets in Asia Pacific have bounced back strongly following a historic period of volatility and uncertainty in March, as the world grappled with a rapidly spreading coronavirus pandemic that left many economies on pause as lockdown measures were put in place.

In fact, some regional indexes — such as South Korea’s Kospi — surged as much as 49.45% as of Thursday’s market close, according to calculations done by CNBC with data from Refinitiv.

Here’s a look at how other major stock indexes regionally have performed since touching their 52-week low in March, as of their Thursday closing figures:

Australia’s S&P/ASX 200: +36.1%
China’s Shanghai composite: +10.29%
Hong Kong’s Hang Seng index: +15.27%
India’s Nifty 50: +33.52%
Japan’s Nikkei 225: +38.74%
Singapore’s Straits Times Index: +22.59%
Taiwan’s Taiex: +33.67%
Thailand’s SET Composite Index: +45.6%
Stocks elsewhere in the world also saw major gains, with the S&P 500 stateside up 42% from its 52-week lows in March, while the pan-European Stoxx 600 surged 36.37%, based on calculations by CNBC with data from Refinitiv Eikon as of Thursday’s closing numbers.

Global markets made a strong comeback from their plunge a few months ago, as central banks and governments around the world pumped money into the economy through massive stimulus packages.
https://www.cnbc.com/2020/06/05/investing-a...march-lows.html

KLCI close was 1556 yesterday. Lowest KLCI was on 19 March with intraday low of 1207. So that's about 28%.

There was a lot of fear in the mkt earlier,... hence I kept buying-up,.. slowly.    ,... too slowly,..

Today, I sense there is growing euphoria in the mkt,... so,.. time to stop buying soon... and to sit back and watch our investments run.

Just got this in the email. Sorry I have to share this being a bear guy. Ha.

[attachmentid=10509896]

Just does not make sense with the current higher overall USA PE when businesses are bad and can get even worse, some lifelines are now too short and some cylinders are now too small.

Ditto for our Msian market, KLCI keeps going up when businesses are suffering, some have closed, more may close, etc. What is our overall PE now & the historical average?

Thanks.

If u look back long ago during 80s, interest rates were all double digits or high single digit in 90s. I believe Wall Street may use 10 years only because discounting any cash flow beyond that would not make a difference in present value.

Now with interest rates so low, Ive actually been starting to use 20, sometimes 25 years of cash flow to calculate present value