Basically, the libertarian model of government fails again.
2008 was the high risk loan regulation failure.
2020 is the high risk virus response failure.
You use propaganda to cut government beneath the efficiency threshold, you reap the crashes which follow and that are expressed by the stock market.
Countries that have governments which can respond are going to do better than ones with excessive laisser faire ideas.
Nothing, of course, can cure the Bananarepublican Party of its ideology.