Price-to-earnings ratios remain elevated despite the S&P 500 index entering a technical correction - thanks to monetary policies that have driven prices to record levels.
The coronavirus (COVID-19) represents the first test of the global market in 2020 and the event that will probably bring this mature bull market to an end.
In the last week of February, global equity markets experienced major routs shortly after reaching record highs. While the duration and severity of the virus remain unknown, the abrupt decline investors have witnessed is the beginning of the transition in stages from "emergence" to "lockdown", which brings with it an overwhelming dose of fear.
Loading...
Geoff Wilson is chairman and chief investment officer at Wilson Asset Management.
