Warren Buffett talks coronavirus and oil ‘one-two punch’ on stock market

#Warren Buffett #coronavirus #Buffettcoronavirus
Yahoo Finance's Editor-in-Chief Andy Serwer took a seat with Warren Buffett to review today's biggest stock exchange sell-off because 2008.

" Not as negative as 2008 or 1987."

That's what Warren Buffett stated regarding the current coronavirus, oil shock market maelstrom.

" If you remain enough time, you'll see everything in markets," Buffett said. "And it may have taken me to 89 years of age to throw this right into the experience, however the markets, if you need to be open second by second, they react to information in a big time means."

In an interview with the Berkshire Hathaway (BRK-A, BRK-B) Chief Executive Officer in his Omaha headquarters on Tuesday, Buffett called the current market shock "a one-two strike" with coronavirus as well as the plunge in oil prices, yet suggested that the October crash of 1987 which he called a "monetary panic" was worse.

As for the marketplace collapse in the fall of 2008, he claimed that was "far more frightening, by far, than anything that happened yesterday [Monday of this week.]

Market volatility has blown up in recent weeks with the spread of COVID-19. The S&P 500 (^ GSPC) has actually dived 19.4% from its Feb. 19 high of 3,393.52 to its March 9 low of 2,734.43, that P/E has boiled down dramatically.

Things truly crescendoed on Monday with the significant indices dropping 7% in a solitary day. The Dow Jones Industrial Average (^ DJI) fell 2,013 factors or 7.8%.

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