What has the Coronavirus caused many investors to do?

As the Coronavirus spread across the nation, fear of its deadly effects hit unprecedented levels. That fear naturally carried over to the stock market where nearly a third of all investors 65 years old and older sold their entire equity holdings. According to data from Fidelity Investments, nearly 18% of all investors sold their entire equity holdings between February and May. However, for those aged 65 and older, that percentage was nearly double at over 30%. With stocks back near their highs, LPL Financial senior market strategist Ryan Detrick noted, “this is yet another reason to have a plan in place before trouble comes, as making decisions when under duress frequently leads to the exact wrong decision.”

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