Panics are the one feature of the financial world, where behavioural biases of investors and traders ebb and flow from category three, ‘fun-to-run rapids,’ to category six, ‘raging widow-makers’. It is, therefore, only apt to think about the financial markets reaction space when it comes to the latest public health crisis, the new coronavirus, or the Covid-19 outbreak in China. As I write this article, the health risk of contagion is spreading like a fire across a dry forest, threatening tens of thousands of lives and the global economic outlook for 2020. Which makes it quite surprising that, so far,…

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