The S&P 500 sank 2.1% in the five days, wiping out gains for the year and landing at 3,225.52. Then came Friday, when mounting concern about the spread of the illness stoked the biggest sell-off in the S&P 500 in six months. All but one of the 11 S&P 500 sectors fell Friday as the index dropped 1.7%. Correlation among the top shares in the S&P 500 has spiked to as high as 0.33 from 0.20 three weeks ago, data compiled by Bloomberg show. There is a lot of vulnerability when it comes to global growth expectations and the U.S. market that’s been priced to perfection.”

Source: Los Angeles Times January 31, 2020 20:03 UTC