We are closing in on another record-breaking sell-off. DJIA is taking another 1,000-point+ hit for the 2nd time this week. Is the Coronavirus finally something we should be concerned about? Or, is this still an overreaction? I keep hearing this is nothing to worry about and the ordinary flu has a higher fatality rate, but I am not going to be that naïve. According to history, the bleeding should have slowed, or stopped, by now. This dramatic multi-day sell-off paints a picture of what is going on. The fear is real. Investors’ confidence in the world to thwart this virus is extremely low. China is the place of origin for the Coronavirus. U.S. companies have spent decades outsourcing production to companies in China. You can see the problem here. Companies such as Microsoft and Anheuser Bush have already announced that the Coronavirus WILL affect supply. Today’s crash sets the record for being the largest drop in two years. Claiming that the Coronavirus outbreak is “nothing to worry about” is a severe misunderstanding of what is going on. The panic is real and it is getting worse every single day. Be careful! If you live in a big city, it may be time to stock up.
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