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Bob Layton: Markets down, virus up

This undated electron microscope image made available by the U.S. National Institutes of Health in February 2020 shows the novel coronavirus SARS-CoV-2, orange, emerging from the surface of cells, green, cultured in the lab. THE CANADIAN PRESS/AP, NIAID-RML

Are you having any dizzy spells as a world of information keeps spinning around you? The markets on Bay and Wall streets fell so fast they had to stop trading for a few minutes to let everyone catch their financial breath.

READ MORE: TSX, Wall Street keep dropping after triggering 2nd trading halt in a week

The price of oil sank with Saudi Arabia and Russia in a war of words about cutting output. As the big powers played chicken, we ordinary folks watched our investments slide uncontrollably.

READ MORE: Saudi Arabia set to increase oil production to record high amid OPEC dispute

Luckily, to keep our sanity, we have sporting events to look forward to — a game to take your mind off the chaos. And then, COVID-19 concern took all of that off your schedule.

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READ MORE: NHL suspends its season amid coronavirus pandemic

It was a one-two punch. The disease and the arguing made the price of oil too volatile for the system.

Until oil and the markets are up and the virus is down, we need to stay positive and wash our hands and look at ways to diversify.

Some prefer to hunker down in a fort made of toilet paper.

READ MORE: Toilet paper panic — Fear, fights and memes spreading faster than coronavirus

But hey, there’s nothing wrong with being prepared.

Let me know what you plan to do.

 

Bob Layton is the news manager of the Corus Edmonton group of radio stations.

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