There's no denying this is an extraordinary moment for the U.S. economy and markets, as the coronavirus pandemic and the sweeping business shutdowns designed to fight it pitch the country into recession.
The stock market's 29 percent slide over just a few trading days has been unprecedented, as is the surge in U.S. unemployment claims anticipated in the next few weeks. It's no wonder the investor "fear index" has reached an historic high.
Even amid this extreme volatility, however, City National Bank's investment professionals expect a recovery later this year and see significant opportunity for disciplined investors with a long time horizon.
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