Wall Street gets zapped by panicky investors
Many of us have little detailed, direct control over our investments, which are in 401(k) funds and other instruments through which we save money for retirement.
But for those who can and do make regular decisions on how their money is invested, recent days, including Monday, have not been pleasant. Stocks fell nearly 8 percent Monday, and have fallen about 6,000 points (on the Dow) overall.
Blame COVID-19, otherwise known as “the coronavirus.” The possibility of a crippling worldwide epidemic has made some investors jittery.
This is no time to panic, however. As both local, regional and national investment professionals point out, the U.S. economy — and thus, most companies in it — remains strong. In most ways, stocks are worth the same prices for which they were selling a month ago.
You may want to give your financial adviser a call, if you use one for your investments. He or she can provide advice in weathering the storm.
The key is to remain calm and not make rash, spur-of-the-moment decisions, however. We’ll get through this. The market will bounce back, likely this summer, as the coronavirus becomes little more than a memory. Unless people decide they will never participate in the exchange of goods and services again. Which is not a possible outcome.