from King World News
Jay Powell warned disruptions in China could spill over to the rest of the world, but here is the big surprise.
Biggest Demand Shock Since 2009 Global Financial Crisis
February 11 (King World News) – Peter Boockvar: Under Armour is another company quantifying the impact of the disrupted supply chains in China in today’s earnings release.
“The company’s initial 2020 outlook currently includes an estimated negative impact of the coronavirus outbreak in China approximately $50 to $60mm in sales related to the first quarter of 2020. Given the significant level of uncertainty with this dynamic and evolving situation, full year results could be further materially impacted.”
While the stock market assumes no impact from the virus as we continue to chug higher, expect much more of this kind of talk as companies figure out the full effect.