Good afternoon: Today's PM — edited by Justin Green — is 500 words, a 2-minute read.
Situational awareness: Not even the big Fed news could stop the market slide. The S&P 500 shed another 2.9%, erasing its gains since President Trump took office.
🚨Breaking: U.K. Prime Minister Boris Johnson has become the latest world leader to order a nationwide lockdown in an effort to stop the spread of the coronavirus.
Clockwise from top left: Cable-car tracks on California Street in San Francisco ... Times Square ... Windley Key, Florida ... Chicago. Photos: Josh Edelson/AFP via Getty Images, Noam Galai/Getty Images, Chandan Khanna/AFP via Getty Images, Kamil Krzaczynski/AFP via Getty Images
Just a week after getting everyone on board with a coronavirus lockdown, President Trump is already teasing its end.
Between the lines: It's hard not to sympathize with folks who are asked to shoulder an unfair share of the burden when they aren't the ones calling the shots.
The big picture: Until we get the pandemic under control, there's no way the economy is going back to normal, Axios' Felix Salmon told me on Slack.
The bottom line: If you thought the reaction so far has been tough, this week could produce the worst unemployment claims data in American history.
Photos: Buda Mendes/Getty Images, Ronen Zvulun/Reuters
Left: Rio de Janeiro, Brazil.
Right: Drone's-eye view of Jerusalem.
Photo: Charles Krupa/AP
In this bleakest of times, Christmas lights in spring have become a thing, AP's Holly Ramer reports.
Julie Check turned on the white lights that trace the roofline of her home in Eastman, Wisconsin.