Bloomberg, March 7: “It’s entirely been driven by sentiment. What has been pushing the markets lower is P/E compression and that is a reflection of investors’ concerns about what is going on,” said Michael Geraghty, equity strategist at Cornerstone Capital Group. “The U.S. economy is undoubtedly strong. It would take a lot to swing it into a recession and I don’t think the virus is likely to do that anytime soon.”
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