When is it Time NOT to Panic?

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By Ryan Skinner, Summit Financial Partners

If you look at your phone or turn on the TV it’s hard to miss that the stock market is on a roller-coaster ride like you'd find at Canobie Lake Park. But most people knew this was going to happen eventually, even as they put their nest egg away for safe-keeping. Like death, taxes, and empty toilet paper shelves in supermarkets, there was always going to be that “big down day.”

We all know what’s causing the drop. No news bulletin there. The coronavirus has the world economy in its clutches and it’s squeezing it like some giant stress ball. Unfortunately, we are the ones feeling the stress. We felt it all during the Hong Kong Flu, AIDS Epidemic, Ebola, Swine Flu, Bird Flu, SARS, and now coronavirus. Each caused the market to sputter, but obla-di obla-da and the stock market eventually self-corrected. This is possibly why those folks who chose NOT to panic during the SARS epidemic in 2003 are now likely sitting happily in retirement on some faraway beach.

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