Stocks sold off Thursday amid investor worries that a “second wave” of coronavirus infections could cause countries and states that are reopening to lock down again. But headlines about a coronavirus resurgence in the U.S. are overblown so far, and the bigger threat is keeping the economy in a coma.
“We know as a fact that reopening other states we’re seeing significant problems,” New York Gov. Andrew Cuomo said Tuesday. “Twelve states that reopened are now seeing spikes. This is a very real possibility.” This is Mr. Cuomo’s excuse for keeping New York City in lockdown purgatory for 12 weeks as other states reopen and their economies rebound.