The New York Stock Exchange had one of its worst days in decades Monday, as fears about the coronavirus mounted and a battle over oil prices and production was waged overseas.

FOX44 News reached out to Dr. Ray Perryman of the Perryman Group to get his reaction to the 2,000+ point drop on the Dow Jones.

“A big part of the problem is the uncertainty that the virus is creating. Investors and market participants are accustomed to evaluating risks,” Dr. Perryman says, “but become uncomfortable when they don’t have the information needed to make informed decisions.”

Dr. Perryman says many investors will shift their focus to U.S. Government Bonds.

As for the dropping price of oil, this comes from Saudi Arabia’s decision not to pull back on production while Russia cuts prices.

“Neither Russia, because of inefficiencies in its production, nor Saudi Arabia, because of the social spending that is tied to oil production, can sustain these prices indefinitely, but it remains to be seen when someone blinks,” Perryman says.

Dr. Perryman is predicting a recovery rather quickly once there is more clarity in both situations and the worst is past us. He points out that the economy was performing very well before news of the virus hit.