JUST IN: The Dow is in a bear market. The index dropped at least 20% from its recent peak as coronavirus continues to whiplash investors.
From CNN Business' Anneken Tappe"What we're actually telling clients to do is to stay calm and to stay invested," Katie Koch, co-head of Goldman Sachs Asset Management, told Alison Kosik on the CNN Business' digital live showWhile the reflex might be to sell as soon as the market flashes panic, timing the best points is to cash out is difficult. That's why it's important for investors to stay put.
"It's very possible that we will have an economic contraction," Koch said. But the economy moves in cycles, so investors shouldn't panic. Many people came into the virus outbreak with a balanced portfolio consisting of stocks and bonds, Koch said. The recent selloff might be a good point to rebalance these portfolios and add some cheap stocks, Koch said.
Sectors of interest right now are health care, including biotechnology, as well as consumer companies, she said. "We're a big believer in the long-term spending power of the millennial consumer," Koch added."They have a perpetual desire for experience over things."
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Global stocks and oil mount a recovery while Dow futures gain 500 pointsMarkets in Asia Pacific have started to recover, and US stock futures jumped more than 800 points, a day after novel coronavirus fears and an oil price war sparked a worldwide panic.
Leer más »
Dow Jones INDEX TODAY | DJIA LIVE TICKER | Dow Jones QUOTE & CHART | Markets Insider
Leer más »
Here We Go Again: Dow Drops 1,000 Points As Stock Market Turmoil ContinuesThe Dow Jones Industrial Average fell yet again Wednesday morning after staging a rally a day earlier. Just on Monday, the stock market had its worst drop since 2008 amid coronavirus economic fears.
Leer más »
Here We Go Again: Dow Dives As Stocks Near A Bear MarketThe Dow Jones Industrial Average fell sharply again Wednesday after staging a rally a day earlier. Major indexes were down around 20% from their peaks in February, signaling an end to the bull market.
Leer más »
Stock Market Bloodbath: S&P, Dow Down More Than 7% In Worst Drop Since 2008A surprise price war between oil producers Saudi Arabia and Russia, compounded by intense investor anxiety over the continued spread of the coronavirus—triggered massive market losses today by theothersarahh
Leer más »
Dow futures spike 700 points after historic sell-offFutures on the Dow Jones Industrial Average indicate a spike of more than 700 points at the opening.
Leer más »