Stocks Slump, 36 Million Jobs Lost, Vaccine in 2021?, AbbVie CEO

Carl Quintanilla, Jim Cramer and David Faber discuss the big hit to stocks after jobless data underscored the coronavirus’ devastating toll on the economy. New claims brought the Covid-19 crisis total to nearly 36.5 million job losses over the past two months, by far the biggest job losses in U.S. history. A record 20.5 million jobs were lost in April alone. On the vaccine front, Novartis CEO saying it may take until the end of 2021 before getting a vaccine. The CEO writing an op-ed published in Switzerland’s Handelszeitung, “The ultimate way to deal with this pandemic is likely to be a vaccine against Covid-19… That will take more time – my guess is about one and a half to two years.” Plus, the CEO of Abbvie joins the “Squawk on the Street” gang to discuss covid-19 treatments, vaccine development and the road ahead.