Welcome to our Exchange to Goldman Sachs Markets update for February 28th.

Each week we sit down with leaders across the firm to get a quick take on the numbers they're

watching in the markets.

I'm Jake Stewart and today my guest is

Erin Riley. Welcome Erin. Thanks for having me. There's a lot going on in the

markets around coronavirus of course but before we jump into the analysis

Erin just give us a quick intro to explain what you do here at Goldman.

Great so I started my career in research covering technology stocks in our San Francisco

office. For the past eight years I've been part of an incredible desk called the

Markets Coverage Group. We sit within the consumer

investment management division and we cover family office and private

clients who are active in the markets and have highly sophisticated trading needs.

Okay, interesting. So it's been an eventful week in the

markets to say to least what's the one big number you're looking at? The big

number I'm focused on right now is 10%. That's how much the S&P has plunged

in the one week since it set an all-time high on February 19th.

This has happened as investors digest news flow around increasing coronavirus infections outside of China.

Most recently in the US, where over 8,000 people in California

are currently being monitored for the infection.

So a double digit decline, like what we've just experienced is technically classified as a market correction

which is something we haven't had since late 2018. This is also the fastest slide into a correction from a peak since 2008. the that in context Monday was the worst day for the S&P in over two years and

Tuesday marked the largest volume trading day of the year across all major US

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