It’s not really about the death rate of the flu - it’s about...

It’s not really about the death rate of the flu - it’s about what the economic impact of the quarantine measures are. China been on lockdown for weeks - the lack of manufacturing going to start hitting corporate revenue/ supply chains. Reason why all companies are guiding revenue down.

Of course the likelihood is this supply chain disruption spills over into credit markets as Chinese companies run out of cash and can’t repay their debts - causes a credit crisis which will flow over to the rest of the world and in the context of slow global economic growth over the last 2 years will lead to a global recession and equity sell off.