SFY - Weekly Edge: Investors Proceed With Caution As Coronavirus Spreads
By Ansh Chaudhary
Investors are reacting with caution as the coronavirus continues to claim more lives and spread around the globe.
The three major U.S. indexes experienced approximately 1-2% drops earlier this week. In an interview with CNBC, Jeffrey Mills, the chief investment officer of Bryn Mawr Trust, said high valuations combined with reactions to headlines about the virus could make the market vulnerable to a 10% pullback. Mills added that he "wouldn't be surprised to see additional headlines come out that might shake the markets a bit."
Mills told CNBC that "a 5%