Stock Market Drops Amid Rising Coronavirus Cases

Stocks plunged again Thursday amid rising coronavirus cases throughout the world.

“What we’ve seen in the last week to 10 days is a drop in the market between 7 and 10%,” investment adviser Brad Bertrand said.

According to Bertrand, it's best for people to ride out this wave, and it’s not the time to take out investments.

The Dow, Nasdaq, and S&P 500 all continue to drop as the coronavirus wreaks havoc around the world.

The virus is halting supply and demand and causing corporate earnings to dwindle and stocks to plummet.

However, some investments are rising at this time, like drug development stocks and “safe haven” investments.

On the supply side of things, manufacturing has been disrupted around the world, especially in China, because they are not able to function properly.

Demands have decreased as well because things like tourism and entertainment have been eliminated because of the fear of illness.

“So a lot of people are thinking at this time of panic, 'I’ve got to get out,' and this is obviously the worst possible time to get out, because you are doing exactly what you shouldn’t do and that’s selling low. We’re supposed to sell high and buy low,” Bertrand said.

Bertrand said rather than following fearful emotions, you should consult your long-term written investment plan.

If you don't have a written plan, Bertrand recommends developing one.