Yes Coronovirus is real and deadly in China. Although the hysteria in the media is causing the mass sell off.
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If it’s really only just a media hoax, the economy will bounce back as soon as the first signs show such. There are a ton of investors watching like a hawk for the first clue that the virus isn’t going to spiral into a large scale community spread, they’re going to buy back in hard.
Correction: The stock market will bounce back hard. Not the economy, which so far has been resilient.