Corona Virus Fears Send Stocks Down, Gold Up

The spread of coronavirus cases in Italy and South Korea is shaking investors out of their recent complacency. Investors are nervous that the global economy will slow dramatically in the first quarter because of coronavirus. And they are piling into classic safe haven fear trades as a result and shunning anything that seems risky. Stocks around the world are plunging. Gold is at a seven-year high and miner Newmont, a major force in Nevada, was the second-best performing stock in the S&P 500 Monday, gaining 3%. Long-term bond rates are falling sharply as worries about a recession increase.