I also don't think we have ever experienced the the whole EU shutting down in our memory which is a bigger psychological hit. 

And just psychology of such a traumatic experience will slow the market.

He studies psychology just so he can market to effect.

As for the psychological risks of the shutdown (suicide, drug/alcohol use, child abuse, domestic violence), this is why we need a strong social safety net, such as food banks, free health clinics, volunteer organizations that can help people weather the economic and other stress we are all going through.

There is some daffy obsession with renaming everything and twisting the psychology of everything....

https://www.usnews.com/news/business/articles/2020-05-26/consumer-confidence-up-slightly-but-remains-near-6-year-low   Like it or not, our economy is heavily dependent on consumer confidence and the psychological impact of 30 million people losing their jobs and over 100,000 people dying cannot possibly be erased by a few stimulus checks and mortgage deferment.   

Its crazy how the Psychology works.

I've stated many times here in the forums that the life of a smallholder hands-on landlord like me can be psychologically destabilizing.

Invest in yourself through self education (developing an investor psychology, and learning to analyze deals). 

It's about the human condition...and psychology.