Today is the third near -900 points drop in Dow Jones index since last week (02/20). Series sharp sell-offs across the board smashes stock market about -10% from its record high made just a week ago.
European countries are getting into big trouble from Italy outbreak of virus. It spreads into Spain, Greece, North Africa, as well as many nearby countries. Iran, Saudi Arabia also suffers badly with increase of affected people and dead number. Thus, it should be clear that this virus kills the 10-year-old bulls.
Some bio-tech companies like GILD, MRNA may be benefit from this disaster because of strong demand of solution to fight with this deadly enemy.
Long term economic damage is to be revealed that global economy is at great risk to lose its momentum.