One branch of the federal government tells us to buy the dip as the coronavirus is contained and is a hoax hyped by the Democrats while another branch is considering measures to protect itself, including shutting down. Not exactly a positive to turn market sentiment.
We have crossed the tipping point from denial to panic, folks.
BREAKING from me & @AlexNBCNews : Members of Congress are becoming increasingly anxious about coronavirus and there is growing pressure on leadership to take steps to protect lawmakers — even potentially recessing for a period of weeks, according to two Democratic sources
— Kasie Hunt (@kasie) March 9, 2020
By the way, in case you missed it, Senator Ted Cruz is in self-quarantine after interacting with a coronavirus patient at CPAC.
In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could.
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Global Macro Monitor