On Friday, January 24, 2020 news of a second case of coronavirus in the U.S. pushed the stock market down 1% as investors scrambled for the cover of perceived safer assets, including U.S. Treasuries.
The stock markets in the U.S. shook off negative numbers from the week ending January 24th and the following week ending January 31st, by jumping to new highs as investors seemed to think the coronavirus was contained. In one week’s time, the NASDAQ leapt 4.0% and the S&P 500 and DJIA each moved up 3.2% and 3.0%, respectively.