As we close the books on January, gains in equities earlier in the month have come under pressure as the coronavirus continues to expand. On Friday China’s National Health Commission confirmed there have been 9,692 confirmed cases of the coronavirus, with 213 deaths, but reports suggest the virus has reached at least 18 counties. The U.K. confirmed its first two cases of coronavirus on Friday, while the U.S. and Japan advised citizens avoid traveling to China. We’d remind readers that Thursday the World Health Organization (WHO) labeled the virus a “global health emergency” and the US State Department elevated its China travel advisory to Level 4 –“Do Not Travel.”

Investors and economists are now attempting to assess the impact of this moving target on the global economy and corporate earnings.

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