Recent news surrounding the coronavirus has shaken investor confidence over the past few trading sessions.
Several of my clients have contacted me with concerns about how the
global spread of the coronavirus
may affect their financial portfolio. With the 24-hours news cycle focused on the disease and countless social media posts and articles offering information and advice that may or may not be accurate, discerning how to best
protect your personal physical health
—as well as make decisions regarding your investments—during this period of uncertainty can be difficult.
My first words of advice to everyone— regarding both your physical and your financial health—are "don't panic." While markets move up and down for many reasons, take a deep breath and step back to scrutinize the information (or misinformation) you're receiving to ensure you are making the most thoughtful decisions.
In the words of Timothy Brewer, a professor of epidemiology and medicine at UCLA’s Fielding School of Public Health and its David Geffen School of Medicine from a recent
Washington Post article
“There’s no value in panicking or telling people to be afraid. Don’t let fear and emotion drive the response to this virus. That can be extremely difficult because it is new, and we’re still learning about it, but don’t allow fear of what we don’t know about the virus to overwhelm what we do know.”
That's good advice as we not only consider how our day-to-day lives may be affected by the virus, but also as we consider how financial markets are reacting to it, including...