Since start of global pandemic equity market lost $18 trillion value around world. But it doesn’t mean that money vanished, it means money changed hands. Stock market can’t lose $18 trillion without short positions that backed by large capital. Short sell orders it’s like a Russian roulette game,only for those who don’t possess insider information. That means that major financial institutions, countries, investors, experienced traders made huge profits. In this article no discussion about unicorn valuation because not yet available reliable data.
Worldwide equality capitalization down 20% (number approximately under $70 tn). Uncertainty over impact of coronavirus created panic in global financial markets. High quality valuations work well until crisis come. Covid19 is a trigger for recession.
Because of countries’ lockdown, strict limitations and quarantine publicly traded stock would show the worst fall in long time. To predict company’s earnings equal to impossible. But we already know impact on employment statistics in US.

European stocks market is in the worst condition since 2008 global crisis. US stock market is in better condition. Future of stock markets will depend on how fast medicine from covid19 will be created. Also fiscal policy will make markets recovery faster.
Thanks, please subscribe to my blog