First and foremost, we hope you and your families are safe and healthy. These are indeed unprecedented times and unprecedented actions are being taken to combat the societal and economic impact of the COVID-19 pandemic. As people across the U.S. practice social distancing and “sheltering in place,” we understand the emotional and financial stress this may create. Please know we are actively reviewing your portfolios for opportunities as well as passing along any non-financial information that may be of assistance to you.
The equity market’s first quarter decline and the entry into a bear market was the most rapid in history (23 days). Daily price movements in both individual stock prices and equity indices reflected the near certain negative impact from Federal and State governments temporarily closing non-essential businesses and mandating shelter in place for its citizens. Furthermore, and more importantly, the time frame for containing the COVID-19 virus remains uncertain and will continue to be a driver of market volatility, both down and up, over the near term.
To read our full 1st Quarter Review, please access the report below.