Understanding Safe Haven Assets In Respect to CoronaVirus

Safe Haven Assets are a set of financial instrument that retain or gain value in times of economic downturn. We are definitely moving towards critical times with the spread of Coronavirus moving faster than the speed of light. As we have seen the negative effects of Cov19 on Major Stock indexes, its adverse effects on Corporate earnings and the harsh presence it occupies on a global scale, Major stock indexes such as Dow Jones Industrial Average (DJIA) has plummeted about 2% or say 500 basis points as of today, the S&P 500 doing same coughing out about 2.1%, Nasdaq 2.7% respectively. We have also seen the USDJPY lost nearly 100% of its gain in the last one week all due to Investors panic.
This been said, Safe Haven Assets such as Gold (XAU), Japanese Yen (JPY) and Swiss Franc (CHF) have all increased significantly in value because of their nature to retain or gain during market chaos. Understanding this will enable traders know more about market movements and make trading decisions based on logic and numbers. There are several instances of economic downturn like the US-China trade war which caused market instability for a while but for the purpose of this of adding knowledge about Safe Haven Assets I will stop here and I hope this help.
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