The Federal Reserve Board building in Washington on July 1. The US economy received its most dire assessment in decades on Thursday after figures showed a 32.9 per cent annualised decline in real GDP for the second quarter. Photo: AFP The Federal Reserve Board building in Washington on July 1. The US economy received its most dire assessment in decades on Thursday after figures showed a 32.9 per cent annualised decline in real GDP for the second quarter. Photo: AFP
The Federal Reserve Board building in Washington on July 1. The US economy received its most dire assessment in decades on Thursday after figures showed a 32.9 per cent annualised decline in real GDP for the second quarter. Photo: AFP
Chaoping Zhu
Opinion

Opinion

Macroscope by Chaoping Zhu

Coronavirus recovery: US economy’s plunge and waning sentiment put investors on edge

  • Investor sentiment before this week was already deflating against the backdrop of a continued pandemic and a pricey stock market, but mixed news this week and continued grim virus milestones make the market rally look increasingly fragile

The Federal Reserve Board building in Washington on July 1. The US economy received its most dire assessment in decades on Thursday after figures showed a 32.9 per cent annualised decline in real GDP for the second quarter. Photo: AFP The Federal Reserve Board building in Washington on July 1. The US economy received its most dire assessment in decades on Thursday after figures showed a 32.9 per cent annualised decline in real GDP for the second quarter. Photo: AFP
The Federal Reserve Board building in Washington on July 1. The US economy received its most dire assessment in decades on Thursday after figures showed a 32.9 per cent annualised decline in real GDP for the second quarter. Photo: AFP
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Chaoping Zhu

Chaoping Zhu

Chaoping Zhu is a Shanghai-based global market strategist at JP Morgan Asset Management. Prior to joining J.P. Morgan in 2017, Chaoping served as China economist at UOB Kay Hian. He also served as a research analyst at the Brookings Institution and Tudor Investment Corporation.