Markets are Too Complacent About Coronavirus Despite Sell-off


Financial Times  | Tue, Feb 25, 2020

by Nouriel Roubini


Investors are deluding themselves about how severe the coronavirus outbreak will be. Despite this week’s big sell-off in equity markets, the worst is yet to come. Until this week, the market reaction to the virus had been mild — after a dip in late January, US and global equities rallied to new highs. This complacency was based on a number of flawed assumptions.

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