April 15, 2020
The U.S. equity market just completed its worst-performing first quarter in history. That is no small feat, considering all the things our country has been through in the last 100 years. More than world wars, economic depression, terrorism, oil shocks, Spanish flu, credit meltdowns, or poor monetary actions, it was the novel coronavirus that brought the global markets to a new series of dubious records. Volatility, price swings, and velocity moved with such force and speed as to defy belief. To go from a record high to a 15% correction in only seven trading days — then into a bear market eight sessions later — is something that, on average, would take nine months to accomplish.
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Information provided by AAFMAA Wealth Management & Trust LLC is not intended to be tax or legal advice. Nothing contained in this communication should be interpreted as such. We encourage you to seek guidance from your tax or legal advisor. Past performance does not guarantee future results.