What a difference a week makes. Since the S&P 500 peaked at3,386 on Feb. 19, it has fallen by approximately 12 percent overthe past seven trading sessions as the spread of the coronaviruspicked up outside of China. While 10 percent-type correctionsare a normal occurrence across any economic cycle, 10 percentcorrections over the course of barely a week are less so. In thesome 10,000 trading days since 1980, there have only been 14such week-long periods of losses exceeding 12 percent.
Market pulse
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4 Coronavirus’s effect on Canadian financial markets
5 Big European companies quantify the coronavirus impact
5 Coronavirus in China: Where things stand