A Goldman Sachs Group asset manager who correctly predicted last year’s rally in stocks says the equity market is overly complacent about the possible damage from the coronavirus and could face more declines. “We don’t think the stock market has priced in the worst outcome of the virus as containment measures may continue to extend, reflecting what we’ve seen in China and Italy,” Shoqat Bunglawala, who heads the global portfolio solutions group for Europe, the Middle East, Africa and Asia Pacific at Goldman Sachs Asset Management, said in an interview. “So we recognise there are still downside risks from here.”
