Coronavirus Hit Not As Bad As Feared; Closing Correction Call

The outbreak of the awful coronavirus in China over the past weeks has had everyone running scared, including me. I “freaked out” in terms of what I feared it might mean for the stock market, among other things. Initially, I suggested (on January 27) the Standard & Poor’s 500 index could correct toward 3150 as a consequence of the effect on the China and global economy, through reduced travel and production, etc.

I happily admit, however, that perhaps that was somewhat too cautious...

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