Ever since the first case of the 2019-nCOV discovered in Singapore on 23 Jan, the current number of confirmed cases stand at 40. The equities market, especially tourism-related stocks, have taken quite a hit. ‘Disease Outbreak Response System Condition’ (DORSCON) in Singapore had been raised to ORANGE (the second most serious tier) on 7 Feb 2020. Human behaviour however has skewed towards the irrational path, which is rational yet puzzling at the same time. Panic selling in the equities market Understandably, the current situation has created a drop in confidence in the economic situation. One thing to understand is this, the drop has little or nothing to do with the fundamentals of companies. Quality companies are still technically strong; their share prices are just relatively depressed. Tourism-related stocks (e.g. hospitality, airlines) remain the hardest hit, which is still heading for the bottom for the tourism cycle....