[throwaway8291]

At current pace the whole US will be infected by May (I wonder, whether the market have priced that in already).

[cm2187]

To be fair, the market isn't pricing deaths of old and sick people. It is pricing the suppression of economic activity as a result of the lockdown. If the whole of the US were really infected by May and if by June the lockdown would be off and the virus in the rear mirror, you would see a big market rallye.