Stock markets continue to be under pressure today after the U.S. announced additional travel restrictions with Europe. The number of confirmed cases continues to be very small, the health impact minimal and the death rate tiny according to the John Hopkins Coronavirus resource center. It appears this will become a very manageable situation. We need to take precautions but also live as normal a life as possible.
What we are experiencing is an exercise in global coordination to keep the virus contained. We are also being reminded of the simple steps we can take to avoid contracting the Coronavirus and similar diseases. Going forward, these actions should be positive for the global economy.
This is not a time to panic and sell growth investments. There is a strong possibility markets will see sharp price advances once the worst of the pandemic is behind us. We were on track for 3%+ GDP growth in Q1; employment markets and the consumer remain strong.
This is a good time to review your investment holdings. Some asset classes have held up better than others during the market sell-off and exposure to specific industry groups may represent a faster recovery or better growth in the future.
As always, please let me know if you have any questions or comments.
P.S. For those looking for a more detailed review of the Covonavirus development, please read the following commentary or listen to the recent webinar from one of our top investment providers, Ark Invest.
