U.S. stocks have mostly shaken off coronavirus fears. But are investors just being complacent?
It took investors a few days, but they think they have the effect of the new coronavirus from China worked out. The broad thrust: Suppliers to China, and travel and holiday stocks, will suffer, but nasty effects for the market as a whole will be offset by central banks. The virus will be controlled enough that it won’t cause a recession in the West.
Leaving aside the heartbreak experienced by relatives and friends of those with the illness, as well as the many deaths, this coldblooded analysis rests on several assumptions...
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