Global stocks suffer worst day in two years on virus fears

Global stocks suffered their worst day in almost two years yesterday with global equity markets falling 3% as fears surrounding the large spike in Corona Virus cases in Italy took hold of capital markets. The selloff was largely stoked by fears that, with the virus on the European continent, global GDP growth was on track to stall and potentially turn negative in 2020. Whilst TAM does believe markets will bounce back from this turmoil, we anticipate further losses as Europe struggles to contain the virus.