Things are not going well for the stock market, and even if the pressure from the COVID-19 coronavirus that has wiped out the market's gain for the year eases in the days ahead, Super Tuesday looms and has rarely been a bullish indicator for stocks.
The stock market losses over the first two trading days of the week neared 2,000 points after a Dow Jones Industrial Average drop of more than 1,000 points on Monday, and another 800-plus points on Tuesday.
The number of coronavirus cases outside of China has jumped in countries, including Iran, Italy and South Korea, sparking fears of a global slowdown due to the spreading infectious disease — and fears that the U.S. will not be able to avoid its own epidemic.
And that's not even taking into account the fact that this week has been historically bearish for the markets due to politics. Next week 1,341 delegates from over a dozen states are up for grabs on Super Tuesday. In the week leading up to the major primary day, stocks tend to trade lower, according to a CNBC analysis of data from Kensho. Both the S&P 500 and the Dow trade negatively 83% of the time in the past six periods ahead of Super Tuesday, each losing an average of 0.7%.
