During every period of stock market losses, financial pundits tell you to buy as much stock as you can because everything is on sale. It’s too soon to know if the recent global market roller coaster is a blip, an overdue correction at the end of a historically long bull market, or the beginning of a full-blown global recession.

It’s too risky to be doing any bargain hunting and buying now until markets can find a floor. The coronavirus sell-off is a temporary setback that will soon give way to an economic rebound, sending stocks and interest rates higher.

The higher rates are coming down the road. There will be a significant interruption to the global economy but will end quickly and there will be a quick recovery later in the year. When the outbreak subsides, there will be pent-up demand globally for goods and services.