The Coronavirus, and the associated fear of a global pandemic, has disrupted the global economy and markets. I am not an epidemiologist or a virologist, so I cannot add anything of substance in that respect. Ultimately, I do not know how bad it gets and how long the disruption lasts. Historically, pandemic fears have typically shaved 10-20% off of equity markets, but there is always tail-risk and human reaction and fear can certainly have a cascading domino effect when it comes to asset prices. That is the bad news. The good news is that there is a global initiative currently underway that will provide fiscal and monetary stimulus to a problem that could be temporary.
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