![]() Be disciplined, patient and consistent in following your long-term goals while putting emotions aside The investment performance of your portfolio is a key component of your future financial success but it’s not the most important factor. Having a robust financial plan will help you ensure that you are following of your long-term financial goals and staying on track. However, the crisis in US travel, entertainment, and the energy sector can push the economy down. We started the year on a strong footing with low employment and strong job growth and housing sales, low price of oil and low-interest rates. The best-case scenario is for a sluggish economy. The likelihood that the US economy will be in recession in Q1 and Q2 of 2020 is very high. We wouldn’t know the exact figures until April. Since the oil and gas and travel-related industry make up for more than 10% of the US GDP, it’s easy to understand that lower revenues and potential job cuts can trickle down to the rest of the US economy. The expectation is that many more will follow the same faith soon. During the previous in 2016, many small oil producers shut down or filed for bankruptcy. In turn, the prices of US oil companies collapsed due to fears that US oil producers can not maintain profitable operations at these low levels. After failed negotiations between OPEC and Russia, Saudi Arabia decided to lower the sale prices of oil by 20% and increase its daily output. The heightened concerns for the global recession and the lowered commodity demand from China pushed the price of the oil down significantly. Many airline and cruise ship stocks are now trading at a multi-year low. The virus fears initially caused by a meltdown in travel-related stocks. Currently, close to 80% of the stock trading is generated by computer algorithms who can send thousands of trades in milliseconds. In certain ways, the daily market conditions are more brutal and unpredictable than a decade ago. We are now observing the worst stock market selloff since the financial crisis of 2008. The inability of governments around the world to contain COVID-19 spooked investors. While the virus outbreak in Wuhan is officially contained according to the Chinese government, large parts of the country remain in lockdown. Many countries in the US are imposing border control restrictions on their neighbors. The US has imposed travel restrictions on China and the European Union. The virus fears are halting public events and forcing companies to change the way they conduct business. The coronavirus outbreak is spreading globally. Investors’ flight to safety has pushed 10-year Treasury rate to 0.8% and 30-year treasury to 1.4%, all-time lows. After the Dow Jones index dropped more than 20% from its February 2020 high, we are formally in a bear market. Today the Dow Jones recorded its biggest daily loss since the October crash in 1987. The longest bull market in history is officially over. Located in the heart of Babylon Village, the Daily Buildingīegan to take its form as a sight to be seen & visited on the daily through it’s design.īabylon Mercantile was featured in Shop Local Long Island on WALK 97.5.Here is how to navigate the market turmoil after the Coronavirus outbreak, the stock market crash, and bottom low bond yields. If you take a look at the top of our building from the outside, scribed across the top is DAILY & while the historical rumors of what this building was once used for (ask us when you come in!) are quite interesting, Owner Donna Sesto sought out to restore the landmark to live up to this permanently etched title instead. Sharing the food of life with others is what makes the ordinary, exceptional. The Cookshop will send you home with yummy treats, recipes & professional kitchen skills and secrets & The Patio will be there to remind you that our house is always your house. ![]() The Pantry will ensure your home can be stocked with both necessity standard and fantastically uncommon products. Here at the Mercantile we want you to fall as in love with the kitchen as we are.
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