Fox Business host Maria Bartiromo warned investors that the stock market will continue to be extremely volatile amid speculation that “hundreds of thousands” of Americans could get coronavirus within the next six to 12 months.
“We have to expect constant volatility — up 1,000, down 1,000. A lot of back and forth,” Bartiromo told Fox News host Bill Hemmer. “Why? Because there’s so much nervousness on Wall Street and throughout the country. We don’t know enough. We have not gotten enough information. The [Trump] administration tried to get ahead of that. They said we will see more cases.”
Bartiromo then claimed that her sources told her that the United States could see “hundreds of thousands” of Americans infected with the coronavirus over the next six to 12 months.
“My sources are telling me — and I don’t want to panic anybody — that we’re going to see tens of thousands – ultimately, hundreds of thousands of cases in the United States,” Maria said. “This is going to happen. That’s why the administration is trying to get ahead of it. In the next six months to a year, we’re going to see hundreds of thousands of cases.”
However, Bartiromo underscored that most of the cases would be benign and not life-threatening.
“Not everybody is going to get deathly sick,” Maria clarified. “There are therapies that will treat this. A vaccine is a year away.”
(Source: Bill Hemmer Reports)
Bartiromo added that the coronavirus epidemic could hurt the booming economy. “This has not just a health impact, it has a serious economic impact,” she said. “It will cut into growth.”
However, Bartiromo says once there’s more information about the virus and there’s some progress made in counteracting it, the stock market will stabilize.
“Once the market gets clarity on what kind of earnings decline we’re going to see, the volatility will stop,” she explained.
Bartiromo’s projection that “hundreds of thousands” of Americans could get the coronavirus over the next year isn’t surprising since many medical experts say it’s a certainty that the virus will spread.
However, several top emergency-room physicians say there’s no cause for panic or hysteria because most people who are not senior citizens won’t be harmed by the coronavirus.
Dr. James Phillips is an ER doctor and assistant professor at George Washington University Medical School. Phillips says “most of us are going to get” coronavirus, but that’s okay because it won’t do any harm to the vast majority of the population.
Phillips said most medical experts agree that the coronavirus can’t be contained. However, Phillips said 98% to 99% of people won’t be harmed by the virus.
Dr. Phillips said: “Most of us, including myself, are likely to get this virus and do fine. You won’t find a single expert out there who’s saying this is going to be contained…Roughly 98 to 99 percent of us are going to do very, very well.”
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