There is a pretty big disparity between these numbers and the optimism in the stock market. The S&P indexes are only down about 14% right now since February and were priced based fairly optimistic growth assumptions at that time.
I think markets here reflect the naively optimistic view of many people that everything will return to "normal" in a month or two.
At some point the reality will sink in that a bunch of companies, businesses and jobs are simply gone and demand will take a long time to return to 2019 levels even if supply was capable of 2019 levels of output tomorrow (which it probably is).
EDIT: case in point [1]:
> Americans are so nervous about the state of the economy that they are stashing cash in the bank at a rate not seen since the first year of Ronald Reagan's presidency.
> The United States government's Bureau of Economic Analysis reported Thursday morning that the savings rate surged to 13.1% in March -- up from 8% in February.
> That's the highest savings rate since November 1981. Americans had $2.17 trillion in savings last month.
[1]: https://www.cnn.com/2020/04/30/investing/savings-rate-federa...
Could this just be that they're spending less since there's less opportunity to do so since everything's closed down? I know I personally "saved" a lot more in April, but it wasn't because I was fearful about the economy. I'm lucky that I can work from home and have been sitting at home for 2 months, not going out, not buying things other than essentials. I don't have to spend money on transportation (Metrocard, lyft, etc), I'm not spending money at bars, I can't go out for dinner, and since I'm home all day I've been cooking instead of ordering takeout. The only "expense" that's increased is throwing money into the market and playing with options, because what else is there to do.
So yeah my savings rate definitely went up, but this says nothing about being nervous about the state of the economy.