While the first weeks of the year saw equities continue the same positive trend of 2019, news of a viral outbreak in China brought unexpected volatility, pushing global equities negative for the month. While the Coronavirus was initially contained to China, it has now spread to over 20 countries. The outbreak has caused concerns about potential impacts to the Chinese and overall global economies from the effect of travel advisories on tourism and business. Chinese economic output is likely to be negatively impacted by the travel restrictions and an expected decrease in spending.