Welcome to Animal Spirits, a show about markets, life, and investing.

Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, and watching.

Michael Batnick and Ben Carlson worked for Ritholz Wealth Management.

All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions

and do not reflect the opinion of Ritholz wealth management.

This podcast is for informational purposes only. not be relied on and the securities discussed in this podcast. Welcome to Animal Spirits with Michael and Ben.

It is Monday morning, 1130 Eastern time.

S&P 500 is down 2.8%.

If here's with the coronavirus, spreading.

All right, little perspective.

This is the 260th time that the S&P 500 has fallen 2% or more since 1990.

Over that time stocks have gained 1,640%.

So what am I saying?

I am saying that this happens all of the time

and not to minimize what's going on in China with the coronavirus and around the world

because it could certainly get a hell of a lot scarier before it gets better.

This is an interesting thing. We're only 4% off the highs 4% we're not even at pullback territory

So in other words if we were falling because

CPI came in hot or there was a bad ISM print or whatever.

I don't think it would, quote, feel as bad as it does,

but because we're falling on fields of a global pandemic, this has people understandably

so a little bit excited.

...