Data: FactSet; Chart: Axios Visuals

Overseas stocks performed even worse than the U.S. on Thursday.

The state of play: Europe’s benchmark index fell 11.5%, its worst day in history; Brazil’s Bovespa dropped as much as 20%, extending this year’s loss to nearly 50% in dollar terms; Canada’s benchmark TSX index lost 12%, for its worst day since 1940.

  • MSCI's All Country World Index, which tracks stock exchanges in 49 countries, fell by 9.5% and is now at its lowest level since early 2017.

The big picture: The losses are mounting because there has not yet been a coherent global policy response and perhaps, more importantly, nothing from the world's largest economy, analysts say.

  • "Market psychology is focused on a U.S. fiscal response, perhaps as a shorthand for U.S. leadership domestically and internationally in this moment of crisis," Marc Chandler, managing director at Bannockburn Global Forex, said in a note to clients.
  • Further, he added in a conversation with Axios: "The focus continues to be on the U.S. because the virus outbreak is growing fast and we seem to be behind the curve. We’re still the key country."

Go deeper: Stocks surge 4% after Wall Street's worst day since 2008

Go deeper

Biden: The next president should decide on Ginsburg’s replacement

Joe Biden. Photo: Drew Angerer / Getty Images

Joe Biden is calling for the winner of November's presidential election to select Ruth Bader Ginsburg's replacement on the Supreme Court.

What he's saying: "[L]et me be clear: The voters should pick the president and the president should pick the justice for the Senate to consider," Biden said. "This was the position the Republican Senate took in 2016 when there were almost 10 months to go before the election. That's the position the United States Senate must take today, and the election's only 46 days off.

Trump, McConnell to move fast to replace Ginsburg

Photo: Alex Wong/Getty Images

President Trump will move within days to nominate his third Supreme Court justice in just three-plus short years — and shape the court for literally decades to come, top Republican sources tell Axios.

Driving the news: Senate Majority Leader Mitch McConnell and Senate Republicans are ready to move to confirm Trump's nominee before Election Day, just 46 days away, setting up one of the most consequential periods of our lifetimes, the sources say.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 30,393,591 — Total deaths: 950,344— Total recoveries: 20,679,272Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 6,722,699 — Total deaths: 198,484 — Total recoveries: 2,556,465 — Total tests: 92,163,649Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: Massive USPS face mask operation called off The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety netHow the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.