The coronavirus outbreak fanned new fears of a worldwide recession on Monday, as well as an all-out oil price war, sending stock markets spiraling down to new record lows not seen since the 2008 financial crisis.

Paul Shank lost about $20,000 last week after coronavirus fears caused the biggest weekly decline for U.S. stocks since the financial crisis. His wife Susan asked him multiple times a day if it was wise to keep any of their money in equities.