As Wall Street reels, veterans recall '87 while the young look to textbooks

- As U.S. financial markets reel from a week of historic swings, industry veterans are drawing on memories from their earliest years on Wall Street, while younger professionals are looking to lessons from history books.

from its record highs through Thursday, brought on by fears about the coronavirus pandemic, or Friday's 9% rebound.was its steepest one-day decline since Oct. 19, 1987, now known as"Black Monday," when the Dow crashed a record 22.6%. Since the S&P 500 began its tumble from its Feb. 19 record high over fears about the coronavirus and its potential damage to the global economy, markets have been besieged by volatility. The S&P 500 has seen 12 days in 2020 with swings of 1% or more, compared to 15 such days in all of 2019.

Phillip Perry, a 37-year-old financial planner and colleague of Phillips’ at Keenan Financial, estimated he has spoken with more than 30 clients this week under 30 years old, all of whom were shocked by the market chaos. Perry said he advises his clients to stay the course, speaking as one of the firms’ more experienced hands.

“My advice to younger people would be to stick your toe in at these lower prices, selectively, and dollar cost average on the down days,” Selkin said.

Source: News Formal (newsformal.com)

And like all the previous sell offs its all emotional amd irrational! Somebody needs to have a serious look at this nonsense! We can't keep doing the same thing every time there is a challenge! Are Americans that weak of people!?! BarackObama JoeBiden lloydblankfein Nouriel

You fucking hold your positions rookies!

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian shares plunge after Wall Street's worst day since '87NEW YORK (AP) — Shares have plunged in Asia, with Japan’s benchmark sinking 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987. Markets worldwide have... Trump is finished before November Not for me! I buy low and sell high! I’ve got balls as big as church bells! Who's the captain of this ship right now?
Source: AP - 🏆 728. / 51 Read more »

Asian shares plunge after Wall Street's worst day since '87BANGKOK (AP) — Shares plunged in Asia on Friday, with benchmarks in Japan, Thailand and India sinking as much as 10% after Wall Street suffered its biggest drop since the Black Monday crash of... That poor man with his face covered will be famous very soon. CasualRao Martial law will be in two weeks
Source: AP - 🏆 728. / 51 Read more »

The Wall Street Journal & Breaking News, Business, Financial and Economic News, World News and VideoKeep informed about the latest coronavirus news with the following stories, which are free to read: ● How to navigate the crisis ● Symptoms and how to protect yourself ● Answers to your questions Jerry Falwell Jr. says the virus is a North Korean bioweapon. Do I need a permit to build a bomb shelter in my house? HDTrucking If there is NO ABILITY of U.S. PHYSICIANS to 'even test for it' BECAUSE of the Trump Administration's POLICY DECISIONS, how can ANYONE 'navigate the crisis competently?' Even Iran and Vietnam can and are 'testing far, far more citizens than the USA.' Ugh.
Source: WSJ - 🏆 98. / 63 Read more »

Wall Street bounces back after worst day since Black MondayWall Street got a boost after House Speaker Nancy Pelosi said lawmakers and the White House were close to a deal on economic relief.
Source: NBCNews - 🏆 10. / 86 Read more »