VOL. C NO. 11 MARCH 16, 2020 $5.THETOP1200FINANCIALADVISORSINAMERICASPECIAL SECTION INSIDE
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CRISIS PLAYBOOK
THE OIL SHOCK
HOW LOW
PRICES WILL
CHANGE
THE ENERGY
INDUSTRY
Page 30
For the latest coverage, go to
Barrons.com/coronavirus
TROUBLEATSEA
THE DIRE
OUTLOOK FOR
CRUISE LINES
Page 29
UP&DOWNWALLSTREET
WHAT THE U.S. MUST DO
IN UNPRECEDENTED TIMES
Page 7
THE AIRLINES
THECARRIERSTHATCAN
FLYTHROUGHTHESTORM
Page 23
THE ROUNDTABLE
18 NEW PICKS FROM
OUR EXPERTS
Page 17
T
he world has never faced a moment quite like
this. A rapidly spreading pandemic has injected
deep uncertainty into the global economy—and
provoked a market response not seen since the
Great Depression. This isn’t 2008, when deep prob-
lems were rooted in the financial system. Covid-19 is a
health crisis, an economic crisis, and a financial crisis
rolled into one—and policy makers will need to get
creative to keep panic at bay. Germany has pledged
loans for struggling businesses, while the Trump
administration announced plans of its own on Friday.
More will be needed. Cooperation between nations,
in short supply these days, will be required to stop
the pandemic and keep the global economy afloat. In
the U.S., politicians from both sides of the aisle must
find a way to work together—or risk something worse
than the financial crisis. New ideas are essential and
policy makers will need to be open to them. Until then,
investors won’t just be washing their hands—they’ll be
wringing them, too.—Ben Levisohn