Markets React to Coronavirus

We have the following observations about the impact of the novel coronavirus outbreak on markets. First identified in Wuhan, China, in December 2019, cases of COVID-19 continue to climb.

Though this coronavirus presents unique challenges, New York’s hospitals and health systems have extensive experience successfully managing outbreaks. In the past 20 years, they have been leaders in tackling the 2003 SARS outbreak, the 2009 influenza pandemic (“swine flu”), the 2014 Ebola outbreak and others.

The vast majority of cases have been in mainland China. However, with more confirmed cases being reported across the globe this week, concerns have become more widespread, particularly after the Centers for Disease Control and Prevention cautioned about the potential impact in the United States.