As coronavirus cases outside of China grow, the template for the current bear market that seems to fit best is what happened to stocks after 9/11.
A review of The Transcript, which is a compilation of earnings calls, solidified this idea. Consider:
• “We have therefore made the assessment that COVID-19 can be characterized as a pandemic. Pandemic is not a word to use lightly or carelessly…Europe has now become the epicenter of the pandemic with more reported cases and deaths than the rest of the world combined apart from China” — WHO Director-General Tedros Adhanom Ghebreyesus
• “Daily life has come to a halt, it certainly appears if you are a human being on this planet.” — Korn Ferry CEO Gary Burnison
• “I think this event is very similar to 9/11 in terms of the psychology of what’s driving it. It’s a fear based event” — JetBlue Airways CEO Robin Hayes
- Cam Hui
- Market Watch
- https://www.marketwatch.com/story/americans-need-money-not-more-reasons-to-spend-or-the-coronavirus-recession-could-be-even-worse-2020-03-16?mod=home-page
