How would you respond in a falling elevator?

by | Mar 9, 2020 | Wealth Management

The markets have been anything but friendly with several gap downs. It has felt like being in an elevator that falls straight to the bottom. In fact, the market has never dropped as fast or precipitously as it has from the recent all-time highs. Below is a chart summarizing the daily return over the last ten days for the Dow Jones Industrial Average (DJIA):


Looking at the chart you can see that we have only had 2 up days in the last two weeks and several days of large losses. The last number (-2,013.76) is today and represents the worst day since 2008. The question becomes what do you do now?

The short answer is don’t panic. It is safe to expect volatility to continue until we have more clarity as to the impact of the coronavirus but we recommend staying the course. The good news is historically if we have losses quickly (like we just experienced) the markets tend to recover faster. If you have questions or concerns, please do not hesitate to contact us.

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