Summit Financial Services, Inc.
Commentary on COVID-19
It is natural to worry as we see the COVID-19 pandemic causing extraordinary market volatility. Markets react to uncertainty and we are seeing large swings in both upward and downward movements. We expect the volatility to persist since we do not yet know when the infection will peak or what the ultimate economic impact will be. However, the US Stock market has been historically resilient. It routinely recovers from short-term crisis events to move even higher.
What does this mean for you? The market tends to reward patience, not panic. Our advice: stay cool-headed and focused on your long term objectives. Rest assured, we are vigilantly monitoring the markets and participating daily in discussions with economists, analysts and policy makers. We are also here to answer any questions you may have and to discuss your individual financial plan and portfolio.