|Stock Market Update:|
With all the uncertainty, the stock markets have taken a hit. The speed and severity of the decline is unprecedented as are the actions of governments to try to help consumers and businesses. It’s hard to believe around a month ago we were at record highs and now the Canadian and US are down around 20% to 25% year to date. Most of your portfolios would be much better due to the diversification of different asset classes.
This has been and will continue to be a challenging period of time for investors to navigate. We have seen extreme turbulence before, and most of us will be around long enough to see it again. We chose each of our investments for a reason. Many fund managers have spent their careers training for these moments as this is when the best bargains are to be found. Over the long term stocks will do very well.
For your interest here are how the US markets have done daily since Feb 18th.