Raymond James warned that the 'worst is yet to come' as the coronavirus outbreak rages on.
China's delayed reaction to the coronavirus outbreak appears to be "sowing real concerns among the Chinese people," Raymond James said in a note to clients Monday.
Raymond James said that following conversations with government officials and academics, it believes the "worst is yet to come" and that the "market is underappreciating the potential dangers..." The firm said it has been "receiving questions on whether or not this will be a 'Chernobyl-like' event for China — the comparison being the impact of the Chernobyl nuclear power plant disaster on the fall of the Soviet Union."
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