I've often thought it weird that when someone hiccups, the market falls. This virus -- ok, it has adversely affected businesses dealing with China, but really -- the market plunges bigly? Just hard for me to grasp.
By the way, the president should be careful what he says. His remarks yesterday about the market doing well as the Dow tanks do not inspire confidence and actually may make things worse.
We were due for a correction anyway. The coronavirus just made it more dramatic.
What I worry about is what happens from here. This is not like a nuke or an earthquake, a localized one-time event.
This is still growing and spreading, people are getting sick, being quarantined, and unable to work on a global basis.
That hits all end of the supply chain, as well as demand. Once it's lost, it's lost, and may be difficult to rebuild back to 100% of the previous output.