How the U.S. Economy Just Lost 33% of its Value

On the 30th of July 2020, the U.S. Bureau of Economic Analysis released its 2nd quarter Gross Domestic Product report. The report noted a 32.9% contraction in annual GDP growth in the months of April, May, and June.   For reference, the 2008 subprime mortgage crisis of 2008 saw an 8% drop in annualized GDP figures at its peak.