American billionaire Warren Buffett announced his challenge to the Corona Virus by sticking to his shares and refusing to sell them in light of the wave of selling in global markets and incurring violent losses during Monday's transactions. p>
According to Arabia Net, Buffett, president of Berkshire Hathaway, said that the outbreak of the Coruna virus would not prompt him to sell his shares at this time.
He explained that the outbreak of the Corona epidemic is frightening, adding that stocks are still a good investment in the long run, and that he will not sell shares despite the seriousness of the current situation. He continued: I do not think that the epidemic should affect what you do about stocks, it did not affect the long-term prospects for investors.
He pointed out that investors who have an investment vision for a period of 10 to 20 years and focus on the strength of corporate profits will prefer stocks. He said that investors who focus on the long-term should not pay much attention to the daily headlines of the news, indicating that his company will be more inclined to buy shares after the recent sales.
The rapid spread of the Corona virus caused a wave of violent losses that affected the risky asset markets led by stocks, as well as the oil suffered violent losses, and the wave of losses extended to the currency markets led by the Asian currencies, which witnessed a bloody session yesterday.
Negative developments related to the deadly virus contributed to a wave of selling to all global markets started by Asian stocks led by South Korean shares, which fell by 4% at the end of the session with the number of Corona virus infections in the country. European shares also witnessed sharp losses at the end of the session, as it fell by 4%, with the Italian Stock Exchange tumbling by more than 5%.
And US stocks recorded sharp losses at the end of trading yesterday, as the Dow Jones index lost more than a thousand points with fears of a significant impact of the virus on economic growth amid expectations from Goldman Sachs Bank that the growth of the American economy will slow to 1.2% in the first quarter of this year .
While the Japanese Stock Exchange escaped losses as it closed its doors during yesterday's official holidays to celebrate the birth of the Emperor.
