The coronavirus' resurgence could drag the US recovery into an L- or W-shaped trend, Bank of America says

Business Insider


· *New coronavirus hotspots risk turning an initial V-shaped bounce into a W- or L-shaped economic slump, Bank of America said Tuesday.*
· *Optimistic labor market data and retail sales in May fueled hopes for a quick recovery, but the reopenings that drove economic activity are now contributing to the pandemic's rapid spread...

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