We closed out the month of March with an unprecedented month in the stock market as the coronavirus caused fear and uncertainty throughout the country. To get a little perspective on what we’re witnessing, let’s take a look back through history at the worst market crashes of all-time.
We thought 2020 could be an eventful year with everything we already knew about but along came the coronavirus and it’s changed everything.
Late February and early March saw a rapid selloff across financial markets and companies saw their value drop as much as 60-80% in some areas. It truly was an unprecedented time that made daily moves of 10% in either direction a common occurrence. While we’re not out of the woods as April begins, things appear to have stabilized a little bit.
Who knows what the next few weeks, months, and years will bring us from a financial perspective, but it’s possible that will look back on 2020 as a year that joins some of the worst of all-time.
To get some perspective on what we’re seeing, let’s take a look back through history on this episode of Her Wealth Matters. J’Neanne will tell us about the worst market crashes in our country’s history, what caused them, and what followed for investors and the economy.
Most people will immediately think back to 2008 as their benchmark for a worst-case scenario, but we’ll go back through the Dot Com bubble, post-9/11, 2008, and more. J’Neanne will also share some of her personal experiences through these times.
Having lived through the ups and downs before, we know what you’re experiencing now. If you need someone to talk to about your finances or to get a second opinion on where you stand, please reach out and contact us.
Listen to the full episode or click on the timestamps below to hear a specific segment.
[1:06] – Black Tuesday in 1929.
[2:24] – J’Neanne shares her personal experience of getting hammered by the market during the Dot Com bubble.
[3:30] – Panicking in these situations can make things worse.
[3:47] – Post 9/11 historical single day decline
[4:27] – The Crash of 2008
[8:16] – We have clients that don’t care how it works. They just want to know that it will work.
[8:36] – A lot of people will try to outpace the market and that’s a critical mistake.
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