Maria Bartiromo warns investors to expect market volatility until there's clarity on coronavirus
The global coronavirus outbreak will cut into economic growth, says Fox Business Network anchor Maria Bartiromo.
Fox Business Network's Maria Bartiromo said Thursday on "Bill Hemmer Reports" that investors should expect "constant" stock market volatility due to the coronavirus outbreak and warned viewers to expect "hundreds of thousands" of cases in the United States over the next several months.
"You know, it's [the Dow Jones Industrial Average is] going to be down 1000, up 1000. A lot of back and forth, a lot of volatility. Why? Because there is so much nervousness on Wall Street and really throughout the country. We don't know and we have not gotten enough information," Bartiromo said. "And the administration tried to get ahead of this last week."
"My sources are telling me, and I don't want to panic anybody, but my sources are telling me that we're going to see tens of thousands, ultimately hundreds of thousands of cases in the United States," she added. "This is going to happen."
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When host Bill Hemmer asked Bartiromo over what time period her sources expected to see those kind of numbers, she answered: "Next six months to a year, we're going to see hundreds of thousands of cases,"
The "Sunday Morning Futures" host later clarified that not all of the cases would be life-or-death situations, saying: "Not everybody is going to get deathly sick. I mean, there are therapeutics. There are therapies that will treat this. A vaccine is a year away."
Bartiromo added that the stock market would stay volatile until the coronavirus situation becomes more clear. She also said that people are less likely to travel until the outbreak is clearly contained.
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"I was supposed to go to a dinner last night. I was supposed to go to something in Washington next week. Canceled because people are afraid to go anywhere," she said. "They don't want to be in close contact with other people because of the risk of coronavirus.
"This has not just a health impact, it has a serious economic impact. It will cut into growth. Once the market understands that and gets clarity on what kind of earnings decline we're going to see, the volatility will stop."
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