EDITOR'S NOTE
No one ever really sounded the all-clear on the coronavirus pandemic, but investors have been able to ignore it like spring break partiers.
Stocks plunged Wednesday, dampening confidence in what has been a V-shaped recovery for equities. The dip came after Florida said its confirmed cases spiked by a record 5,508. Worse, the percentage of positive results from Covid-19 testing in the state rose to 15.91% from 10.82%.
"The stock market … was betting the worst of the pandemic recession was behind us,” said Chris Rupkey, chief financial economist at MUFG Union Bank. "All the hopes of investors looking for a better economy to improve the bottom lines of companies shut down in the recession have been dashed." 
Cases are surging nationally as well, threatening to set back reopenings, travel plans and the economic recovery.
New York, New Jersey and Connecticut ordered visitors from hotspot states to quarantine, and Walt Disney World employees petitioned to delay reopening the Florida park. Both moves give would-be travelers additional reasons to postpone plans.
"We have entered a new phase of this crisis,” said Gregory Faranello, head of U.S. rates trading at AmeriVet Securities.
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