As Coronavirus Spreads, Listen to Stock Market....For Now
Covid-19 was officially declared a pandemic Wednesday, and stocks officially entered a bear market, falling more than 20 percent from their peak just last month. The two milestones are related. Even in the best of times, markets are tuning forks not just for the sound of economic activity but for public sentiment about the future. Today, that sentiment is agitated, fearful, volatile. There are reasons to be concerned and to pay attention, and reasons as well to discount the most extreme moves.
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