Coronavirus is thought to have had an impact on commodity prices

JMI Wealth director Andrew Kelleher says there's usually a flight to safety and quality with events like this, and risk aversion trading.

He says we've seen gold prices spike, money has flowed into US Treasury Bonds and the US Dollar has been stronger.

Kelleher says Brent Crude oil fell below 60 US Dollars a barrel, which shows the markets are worried about lower levels of economic activity.

He thinks OPEC will pump less oil as a response.