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Blog

Stock Market Commentary – February 28, 2020

2/28/2020

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The spread of the coronavirus beyond China has unnerved the U.S. stock market this week and threatens to temporarily slow economic growth overseas and potentially here in the U.S.  Like many virus outbreaks of past years, think SARS or H1N1, we believe the coronavirus will ultimately be contained and economic conditions will return to normal.

As with past flu outbreaks, the reaction in the stock market can be sharp yet relatively short-lived.  Economic growth temporarily slows as people hunker down and stay indoors, as we have seen in several cities overseas.    After large gains in stocks in 2019, it is our feeling that the stock market needed a breather and the coronavirus has provided just that catalyst.   Like past flu outbreaks, a 5% to 10% correction in stock prices can be expected, and we are right in the middle of that range as this note is being penned.

Investment portfolios at GSB Wealth Management consist of high-quality instruments and are well-diversified over numerous asset classes and economic sectors.  We strongly feel that sticking to the plan and not panicking in situations such as these is the best course of action. Please call if have questions or would like to discuss your accounts in greater detail.
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