The Stock Market is Sick
COVID-19, the novel coronavirus, has infected media, travel, conferences and conversations. It seems to be everywhere. If you have questions, or are feeling stressed, remember you're not alone in this situation. Here are some things to keep in mind.
First, here's a link to a brief video from PBS Newshour on the relationship between the stock market and the virus. It touches on how stock markets don't like uncertainty. To be honest, no one likes uncertainty. Ugh!
Second, here are my current thoughts:
- Market corrections are normal. Usually annually. (I know it's been a long time since we've had one.)
- Your portfolio should match how you feel about risk. If it doesn't, or if you need to update it, talk to your financial advisor.
- Volatility will be the norm until more data is available about the virus and its impact on companies worldwide.
Finally, what should you do?
- Be aware. Don't live in the negative space. But do stay aware of what's happening generally.
- Reach out to your financial advisor if you're concerned about your portfolio.
- If you're so inclined, you might want to invest. Prices are lower now. Again, talk to your advisor.
What you should be most scared of is not doing what’s right with your money. Because this is the only thing that could result in your fears coming true.