Global equity markets tumbled Monday, continuation of concerns around the growth of the COVID-19 virus, and new fears of a price war between Saudi Arabia and Russia after the Organization of the Petroleum Exporting Countries (OPEC) failed to come to a consensus around oil production. On Saturday, Saudi Arabia slashed official crude oil selling prices for April and is preparing to increase production, indicating a sudden shift from their previous stance to support the oil market as global demand weakened from coronavirus fears. The price cut comes after a breakdown in OPEC talks last week, with Russia rejecting additional cuts. Oil had its worst day since 1991 during the Gulf War, diving more than 30% at intra-day lows, causing additional uncertainty and volatility in global markets.

Fear and uncertainty regarding the spread and impact of the new coronavirus (COVID-19) outbreak have created widespread volatility across various investment markets beginning in late February of 2020. And while many news outlets and headlines focus on the risks the virus poses to the general population and drastic drops in domestic markets, there have also been unexpected market opportunities created in the wake of the virus that may benefit wealthy investors.

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