Message from Jon
We saw an outsized sell-off on Monday resulting from the concerns and speculation on the outbreak of a new virus in China. Oil and Stocks both domestic and abroad sold off abruptly over the contagion risk and containment China and the rest of the world is working on but still have not identified the solution for as yet.1
In my opinion, we are seeing the velocity and strength of future declines in both the Q4 of 2018's decline and days like this one. Attempting to sidestep or even react to black swan type events is not a wise course of action.
I believe we are not out of the woods yet on the headline risks represented by the virus, impeachment, and earnings, so be prepared for continued volatility.
Till we speak again, enjoy your week.
Stocks End the Week Lower
WEEKLY UPDATE - JANUARY 27, 2020
The Week on Wall Street
Stock prices fell last week as investors considered the potential health and economic risks of the flu-like coronavirus.Foreign stock markets, as tracked by the broad MSCI EAFE index, fell 1.03% for the week. Coincidentally, the S&P 500 lost exactly that much across a 4-day Wall Street trading week. The Dow Jones Industrial Average declined 1.22%, the Nasdaq Composite 0.79%.
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