If you have any money in the market, chances are you have heard of recent slumps in U.S. market indexes.
From February 21st to February 28th, the Dow Jones Industrial Average index fell 12.4%. That drop was quickly followed by a couple of record setters in March. The worst drop in three decades came on March 13th.
The Dow fell 10%, its then-worst decline since the 1987 Black Monday market crash. Then, on March 16th, the market indexes had another record-setting drop. The Dow fell 12.9% and the S&P 500 declined 12% in one day, respectively.
On the whole, investor concerns over the novel coronavirus and the oil supply feud between Russia and Saudi Arabia have sent global financial markets into a tailspin. For those on the cusp of retirement, the timing couldn't be worse.
Of course, every market is different. As a result, no one can be 100% sure of what will happen next. Even so, what might retirement investors face in the near future?
The decline has actually taken us into bear territory, which is typically defined a market drop of 20% or greater.
But as Peter Oppenheimer, chief global equity strategist at Goldman Sachs, observes, there hasn't ever been a bear market spurned by a viral outbreak.
