https://www.marketwatch.com/story/heres-how-etf-investors-have-ridden-this-weeks-coronavirus-roller-coaster-2020-02-26Coronavirus worries are slamming global markets. What are ETF investors doing?
By Andrea Riquier
‘What I don’t see here is panic’: CFRA’s Rosenbluth
Even as coronavirus concerns upended financial markets over the past week, exchange-traded fund investors have behaved in a very peculiar way.
outbreak; meanwhile, tech giants including Apple and Microsoft saw their stocks drop roughly 8 percent each today.
According to market analyst Adam Crisafulli, “this is very much a moment of panic” driven by coronavirus, a biological crisis, when previous crises—like trade negotiations—were “man-made,” he told Forbes.
Another factor driving the deep selloff is November’s election, said Crisafulli, because “the markets would prefer [President Trump’s] policies over any of the Democrats,” but believes Trump’s re-election campaign is strongly based on stock market and economic performance, adding that “you don’t want a downturn in an election year.”
Crisafulli pointed out that Starbucks reopened 85% of its China locations, which is “an indication that China is having some success in containing the virus and resuming some [normal economic] activity.”
