It will be actually "destroyed" if the virus is not stopped.
For God's sake people stop thinking about your S&P500 index funds for a second. Also, if you still want to be selfish, your index funds will go down to ~zero if the virus is not stopped.
It’s not clear to me that letting the virus run it’s coarse would hurt the economy.
Some (but certainly not most) very old people would die, but they are not in their productive years. Their assets would pass to younger people who would be more inclined to put them to use in the economy.
The difference in death toll would be minimal, but the difference in the economic recovery will be substantial.
As raw numbers but not percentages. 13% each of the past 3 days is better than the 15-25% (mostly nearer 25%) of the past few weeks.
I dont think Italy is over the hump yet
That is a huuuge emotional toll.