Monday would have been a great day to avoid checking on your 401(k). Tuesday, however, is much more stable. In the first half-hour of trading, the Dow actually rose by more than 100 points on news related to the coronavirus and its effects, though it was back in the red about 60 points later Tuesday morning, reports the Wall Street Journal. Specifically, investors seemed happy with various initiatives rolled out by China to stimulate the economy, including tax cuts and a decree for banks to issue more loans. Earlier, stocks in Europe were down again, but modestly so, nothing like Monday's falls of 3% or more.
MarketWatch, meanwhile, collects "stay the course" advice from financial guru Suze Orman, who used the word "rejoice" in regard to Monday's fall of more than 1,000 points for the Dow. Most investors are in for the long haul, she explained, and they have a decade or more to go before they'll need their money. "So given that that's how they are investing, why would they want the markets to go up?" she asked. "'Cause the higher the market goes, the shares cost more, the less shares their money buys, the less money they make, in the long run." In other words, small-time investors shouldn't panic. "With this dip, and if it continues to go down, they should just stay the course and actually be quite happy because the market is still incredibly high." (More stock market stories.)
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