Coronavirus is going to 'paralyze China' — El-Erian warns against buying dips

'It is big. It's going to paralyze China. It's going to cascade throughout the global economy,' said the Allianz chief economic advisor.

is warning investors not to buy declines in the stock market like they might have done before the coronavirus.

"For a long time I though the market sentiment was so strong that we could overcome a mounting list of economic uncertainty," El-Erian said on"But the coronavirus is different. It is big. It's going to paralyze China. It's going to cascade throughout the global economy."

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