A Pandemic of Fear

As February began, most investors were keeping a cautious eye on the coronavirus that was spreading in China. While there were isolated outbreaks around the globe, they were just that—isolated. Some firms began to back away from prior financial forecasts, but a mistaken belief the illness would be contained to China kept markets at inflated levels. That changed dramatically when headlines surfaced that the coronavirus had spread to northern Italy, South Korea and Iran.
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