Finish Line, Q1 2020 - Whew!

Remember all this?

Ninety days ago we stepped into a new decade arguing over whether it was actually a new decade. Today, we’re in a much different world. As Q1 2020 reached the finish line, let’s take a collective breath and rewind:

January 
President Trump ordered a strike killing Iran's top commander, Qassem Soleimani. Oil prices and geopolitical tensions soared then fizzled out.

BlackRock CEO Larry Fink said the asset manager is doubling down on confronting climate change, a watershed moment for the environment's role in business decisions.

Trump signed a "phase one" trade deal with China, calming two years of tensions, as well as a North American trade deal. The U.K. finally Brexited. And China locked down 56 million people as the coronavirus spread. 

Kobe Bryant's surprise death on Jan. 26 united grieving fans from all over the world. 

February
The Iowa caucuses were a technological disaster. Tesla went on a stock run for the ages. Feb. 7, the Fed said coronavirus could pose a risk to the U.S. economy. 

Facebook changed its political ad policies in the wake of Bloomberg memegate. Weinstein was convicted. And Bob Iger abruptly stepped down as Disney CEO. 

By late February, China was slowly getting back to work after many weeks of quarantine, while the U.S. prepared for an outbreak.

March
Joe Biden took the lead in the Democratic primary, while competitors like Pete Buttigieg and Elizabeth Warren ended their campaigns.

Saudi Arabia started an oil price war, and the U.S. began acutely feeling the coronavirus. Companies started WFH. Sports were canceled. Universities closed. Trump's Oval Office address sent travelers scurrying home from Europe. 

In an emergency move to save the economy, the Fed cut rates half a percentage point. March 9, a stock plunge tripped the circuit breaker. Two days later, the Dow entered a bear market. March 16, it logged an almost 3,000 point loss. 

By mid-March, the private sector had mobilized into a wartime economy. Nonessential businesses were closing. 3.3 million Americans filed for unemployment in a week. And the government passed a record $2.2 trillion stimulus package.

Looking ahead...with 2.8+ billion people around the world under some kind of lockdown, many of us will experience Q2 from our living rooms.

-- Morning Brew