The markets plunged Tuesday on the prospect of massive economic disruption. News of the coronavirus spread caused the Dow to lose 879 points yesterday and the S&P 500 to see its largest 2-day drop since 2015.  Aimee Picchi reports on the possible effects on the global economy for CBS News. Roughly one in every nine jobs in Georgia may be affected as well. With a 30-40% drop in imports through the state’s ports,  440,000 people may be impacted. Michael Kanell covers the situation for the Atlanta Journal Constitution. How should investors react to the coronavirus threat? The Charles Schwab team makes recommendations for Advisor Perspectives.

Dow Drops More Than 800 Points On CDC Warnings Of Coronavirus Spread In U.S. — Stocks continued their slide on Tuesday, plunging after the Centers for Disease Control warned that the coronavirus was likely to spread in the U.S. The prospect of massive economic disruption sent the Dow down 879 points, or 3.1%, to close at 27,081. The S&P 500 stock index lost 3%, amounting to the the sharpest two-day percentage decline for the index since August 2015, according S&P Dow Jones Indices. Read more…

Georgia Ports Expect 30-40% Drop In Imports From Coronavirus Impact — Georgia’s economy will likely take its first hit from the coronavirus very soon, with shipments into the state’s ports dropping up to 40% in March and April, according to projections by the agency that manages that traffic. The economic impact could be widespread. About 440,000 jobs – roughly one in every nine in Georgia – is dependent on the ports and the commerce that moves through them. Read more…

Spreading Global Virus Cases Shock the Stock Market — “Complacency has been evident with regard to the stock market’s behavior and the impact of the coronavirus on global growth,” says Schwab Chief Investment Strategist Liz Ann Sonders. “The initial outbreak of the virus conspired to shake that optimism, but after a mild 3.3% pullback in late January, complacency built yet again on hopes of a containment of the virus.” Containment is key, as she explains and offers investors advice on how to negotiate the crisis. Read more…

 

John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller

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