Fastest Bear Market in History

As investors scramble to cope with the volatility caused by the spread of the coronavirus, Wall Street dropped to a new low yesterday amidst the most daunting sell-off since 2008. At the time of this writing, all major US stock indexes are off about 8% in today’s trading session. Yesterday, the Dow dropped more than 1000 points into a bear market, 20% below the record high we saw in early February. This bear market took only 19 trading days to reach, the fastest in history by almost double the previous leader, July 15th, 1986 with 36 trading days. The S&P 500 and NASDAQ ended the day just short of bear market status, dropping 4.9% and 4.7% for the day, respectively. It’s been a rough ride these past few weeks, but we’re looking ahead and preparing for all scenarios.

This volatility only confirms what we have always believed to be true- when it comes to the markets, it’s most advantageous to remain calm and play the long game. As fears surrounding the coronavirus pandemic spread, not only will market volatility continue, but there will continue to be fiscal responses in efforts to curb the inevitable global economic slowdown. Rest assured because as mentioned, we are big proponents of long-term investment strategies, we’re buckled in to ride this wave and continue to make the most educated decisions as possible for our clients.

As your trusted advisors, we understand these market movements can cause significant concern and prompt a lot of questions. While we always encourage our clients to stay current and updated, we also welcome the opportunity to discuss your financial plan more in depth amidst all this market craziness. Please always feel free to reach out to your service team at anytime and we will be happy to address any questions or concerns you may have during this time.

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