(New York)

With the big fall on Friday, a new and important reality has hit the stock market—indexes are actually down on the year. This is eye-opening because stocks came into the year with huge momentum from 2019’s big gains. However, between earnings and the Wuhan virus, stocks have taken a big hit. Adding to these fears is the fact that China just had a disastrous 8% loss today and there are escalating worries over how this virus might impact global growth.

FINSUM: Our own view is that the damage this virus has done to stocks is transitory and buy-the-dip might still be the best strategy.