Empty public spaces, shuttered hangouts, closed bars and upended calendars are becoming the new normal across much of America and the U.K. In Italy, where the coronavirus has lingered longer, delay in detection and testing has yielded disastrous results, with thousands dead. The global economy meanwhile is straining, and recession risk is shifting the political calculus. Donald Trump has proclaimed himself a “wartime” president as U.S. governors decry continuing White House floundering. In Germany, Chancellor Angela Merkel softened her resistance to joint European debt, but it may not be enough because the supply chain shock is now global.

What you’ll want to read this weekend

Everyone’s looking for the bottom of the market in a meltdown so bad that it hasn’t even spared hedge funds.

Young people may not be as impervious to Covid-19 as originally thought, but travel curbs bring with them economic and social costs.

Private equity has cash for bargains and the world’s rich are buying up crushed stocks. For big U.S. companies, $1 trillion in proposed fiscal stimulus will be a boon. For individual Americans, the future could hold 20% unemployment.

Boeing is in turmoil and won’t survive without a bailout, hedge fund manager Bill Ackman contends. Meal-kit delivery company Blue Apron is doing great though, its shares surging more than 1,000% as people hole up at home.

Berlin dance clubs and U.K. divorce courts are shifting online. Online dating, meanwhile, faces its own challenges.

What you’ll need to know next week

Watch for more bailout talks: airlines are prime candidates.
Finance chiefs from the G-7 hold a virtual summit.
Good timing? Walt Disney starts its streaming service in Europe.
U.S. filings for jobless benefits are poised for a historic surge.
Porsche reports earnings as the world’s factories close.

What you’ll want to see in Bloomberg Photos

America Goes Quiet in the ‘Shelter in Place’ Era

With California’s 40 million residents directed to stay home and New York tallying the most infections of any state, U.S. cities are shutting down. Everything from Florida beach trips to the Metropolitan Opera’s season is being canceled. Even Bourbon Street is going quiet.

The usually packed Brooklyn Bridge pedestrian walkway to Manhattan is deserted on March 17.

Photographer: Angela Weiss/AFP

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