A spike in new coronavirus cases outside of China, especially in Italy and South Korea, has put investors on edge.

Monday’s coronavirus-fueled market sell-off drove global equity markets to their lowest levels since December, with the Dow Jones falling over 1,000 points or 3.56%. The S&P 500 Index, a broader measure of the market, fell over 100 points or 3.35%.

As advisors, we should remember that markets are mechanisms for rapidly digesting large volumes of new information into asset prices. And it’s in times like these, when market volatility increases, that it’s prudent to step back, catch our breath, and evaluate what we know and don’t know.