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

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Which states have set single-day coronavirus records this week

Data: COVID Tracking Project and state health department data compiled by Axios; Map: Danielle Alberti and Naema Ahmed/Axios

13 states this week surpassed records set just last week for their highest number of coronavirus infections in a single day, according to the COVID Tracking Project and state health department data. 16 states in total reported new highs.

The big picture: The United States' alarming rise in coronavirus cases isn't just due to increased testing — particularly where the number of cases has grown fastest over the last month, Axios' Andrew Witherspoon and Caitlin Owens report.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

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  2. U.S.: Total confirmed cases as of 6:30 p.m. ET: 3,169,611 — Total deaths: 133,885 — Total recoveries: 983,185 — Total tested: 38,856,341Map.
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National Airport in D.C. Photo: Daniel Slim/AFP/Getty Images

It feels like mid-March in America again. The coronavirus is surging, deaths are climbing and the country is dreading a wave of disruptions, less than four months since the first round started.

The big picture: Lingering under all the happy talk of future plans is the reality of this virus — which thrives in potential super-spreader conditions like mass gatherings.