by Pippa Stevens, Maggie Fitzgerald, and John Melloy
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4:55 pm: Citi says not enough fear, so don’t buy yet
For investors wondering if it’s time to buy the dip, Citi said it’s too early to sound the all-clear. “There is temptation to try and bargain hunt when there’s a broad and quick painful selloff, but there is little hard data to go on with respect to the COVID-19 impact,” Citi’s head of U.S. equity strategy, Tobias Levkovich, said in a note. “There is definitely meaningful risk to earnings outlooks from direct sales exposures to affected countries as well as supply chain disruption,” he added.— Li