Wuhan coronavirus is the juiciest, most tempting bear-bait of a decade-long bull run whose greatest asset has been scary stories. Since the rally began in March 2009, the S&P 500 has notched three “stealth” bear markets during times of seemingly imminent ruin. The stock market looks vulnerable. The strongest evidence is in one key section of the stock market and global economy: semiconductors. Deep, protracted declines in a stock market full of highly disruptive, profitable companies with extraordinary addressable markets has been the key recipe to keeping this aged rally alive.

Source: Forbes February 04, 2020 14:03 UTC