from Financial Survival Network
Al Caicedo is back… Coronavirus fears are clobbering the stock market — is it doing the same to your retirement? Concerns about the spread of COVID-19 have pushed stocks lower. The coronavirus has reached a handful of countries across the globe, including the U.S. — and now, it’s touched retirement plans too. Concerns about the spread of the disease and a global financial slowdown are driving deep dips in the stock market. Retirement portfolios are not immune to market volatility, worrying some savers that they may lose valuable assets they’ve been stashing away. The Dow Jones Industrial Average DJIA, -2.00% and the S&P 500 SPX, -1.90% both dropped more than 6% over Monday and Tuesday, in part due to fear of the coronavirus spreading around the world. The S&P 500 suffered the biggest two-day loss since 2015 this week. Naturally, some retirement portfolio balances are waning as well, requiring advisers and financial firms to talk through these issues with their clients. As always, many financial advisers are telling investors to remain calm. Market volatility is normal and expected, especially for long-term goals like retirement.
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