COVID-19 Stirs Stock Market Panic

223
Stock Market Selloff

(FinancialHealth.net) – The last week of February was brutal for global markets. As news broke about the spread of the coronavirus, stocks tanked. Unfortunately, panic over the virus doesn’t seem to be letting up.

After shareholders frantically sold off stocks, Standard and Poor’s (S&P) 500 had its worst day since August 18, 2011. Nasdaq and the Dow Jones experienced the largest weekly declines since October 2008.

On Sunday, US stock futures fell across the board. Although the day started out rough, they were recovering in the evening:

The week’s declines have hurt, and strategists at Goldman Sachs, Citi and JPMorgan don’t think the worst is here yet.

The market losses are leaving many people to wonder if their retirement funds are okay. If you have money in the market, this would be a good time to speak to your financial advisor to make sure you’re taking the necessary steps to protect your financial future.

~Here’s to Your Financial Health!

Copyright 2020, FinancialHealth.net