{"id":142376,"date":"2020-01-28T13:40:10","date_gmt":"2020-01-28T13:40:10","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=142376"},"modified":"2022-10-27T06:14:07","modified_gmt":"2022-10-27T10:14:07","slug":"stock-market-coronavirus-stocks-buy","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/stock-market-coronavirus-stocks-buy\/","title":{"rendered":"Coronavirus Stock Market Scare: What Stocks to Buy?"},"content":{"rendered":"

In the last few days, North American indices shed gains as fears of the new disease, the coronavirus, reached investors and the stock market. China authorities have decided to suspend trading<\/a> on the Shanghai and Shenzhen stock exchanges which could end up with a heavy correction when trading resumes on February 3.<\/p>\n

As more cases of the coronavirus develop in China and beyond, markets around the world have been slipping and selling off. Lately, almost every sector, especially tech<\/a> and energy<\/a>, dropped.<\/p>\n

The coronavirus could not come at a worse time, with millions of Chinese returning home to celebrate the Lunar New Year in vast numbers on par with American Thanksgiving and Canadian Christmas.<\/p>\n

However, utilities saw a lift. 💡<\/p>\n

Gold<\/a> increased again. 🏅<\/p>\n

But the biggest gainers by far were biotechs<\/a>. ☣️<\/p>\n

Biotechs, such as Inovio Pharmaceuticals (INO on the Nasdaq) which rocketed 26% on January 27th 2020 and rose another 3% minutes after the closing bell in after-hours trading. Inovio is one of the little-known pharmas that the Coalition for Epidemic Preparedness Innovations has awarded US$9 million to develop a coronavirus vaccine.<\/p>\n

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