EDITOR'S NOTE
Monday came with a reminder that risk isn't always priced into the market.
Coronavirus fears have lingered for weeks and they've often been discounted as the major indexes have notched new highs. On Monday, though, the Dow Jones Industrial Average fell more than 1,000 points as the outbreak worsened beyond China. The Dow and the S&P 500 have erased all of their gains for 2020.
“A week or two ago, people thought it was flawless. And now today they think it’s hopeless,” said Howard Marks, co-chairman of Oaktree Capital Management on CNBC's “Halftime Report.” 
Economist Nouriel Roubini points to a litany of well-known issues that threaten the stock market this year, writes CNBC's Jeff Cox, from the upcoming presidential election to potentially reignited tensions with China or Iran.
"Financial markets, meanwhile, remain blissfully in denial of the risks," Roubini argues, "convinced that a calm if not happy year awaits major economies and global markets."
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