The current coronavirus crisis has rocked the markets and American banking sector. The word unprecedented is probably overused in the current day and age, but it definitely applies right now.

While it's important to keep up with the latest news from banks, investors and indicators such the forex market, it's also necessary to take time to understand the wider trends that are feeding into the announcements we see. 

Want to know where to start? Here are three key things you NEED to know about right now...

Spanish Flu: A lesson from history

As the old saying goes - history doesn't repeat itself but it can rhyme. And, when it does, there are lessons we can take. The Spanish Flu pandemic has never been so relevant, as people pore over the pages of history books to look for clues on. While the world might've been very different at the end of the First World War - and the 50 million death toll looks avoidable with modern medicine - there's much we can take from the experiences people faced over 100 years ago. 

As Christopher Nichols, associate professor of history at Oregon State University, explained: "The questions they asked then are the questions being asked now. And while it's very rare that history provides a simple straightforward lesson for the present, this is one of those instances."

He added: "The Spanish flu tells us that social distancing works. And it works best if we act early, act fast and stick together -- and base our decisions not on social or economic concerns, but on science and data and facts."

Whether you're concerned for your own health or are keeping a close eye on the economy and how recovery is possible (or, indeed, both) it makes sense to study Spanish Flu right now.

What really happened in the last crisis

You don't have to go back to 1918 to find useful information in the past, however. Given that the economic impact of the coronavirus is likely to lead to a crisis that takes years to recover from, it's important to consider the context. It's been a long and slow road since 2007/08 - and many feel that some of the underlying problems with the global economy haven't been properly fixed in the decade-plus since.

But, of course, not everyone lost out in the last crisis. Crises, after all, always present opportunities and it's important not to lose sight of that. If you haven't already, reading The Big Short - picked as one of IG's top trading books of all time - is an essential read to get a better understand of the last crisis as we gear up to deal with the next.

The race for a vaccine

One sure fire 'big winner' from this current crisis will be the first company who is able to manufacture an effective virus. Indeed, many feel that 'business as usual' can't truly happen until this happens.

As a result, when Moderna announced that it was already able to conduct human trials, its share price shot up, spelling great news for the likes of Timothy Springer, the Harvard professor who has seen a 17,000% return on his stake in the Massachusetts firm.

Investors around the world need to keep a close eye on biotech firms developing vaccines and other treatments. Getting up to speed on this race is key if you want to emerge from this period in a positive position.