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.