The “Unsinkable” Financial Markets Just Slammed Into A Massive “Iceberg” Called The Coronavirus
And at this point even Chinese President Xi Jinping is admitting that this outbreak will “have a relatively big impact on the economy and society”.
Up until now, the financial markets have been mostly overlooking the fact that the second biggest economy on the entire planet has been imploding because of this virus.
I think that many investors were assuming that this outbreak was just a temporary phenomenon, but now reality is starting to set in…
“The second-largest economy in the world is completely shut down. People aren’t totally pricing that in,” said Larry Benedict, CEO of The Opportunistic Trader, adding a 10% to 15% correction in stocks may be starting. He also said some parts of the market, particularly large-cap tech stocks, appear to be over-owned. “It seems like there’s much more to come.”
via theeconomiccollapseblog The “Unsinkable” Financial Markets Just Slammed Into A Massive “Iceberg” Called The Coronavirus