Financial news outlets are full of predictions these days by investors who allegedly “called the coronavirus collapse” for what they think will happen next. A leaked client letter from a hedge fund star who made an absolute killing in the selloff promising a peak into his “magical crystal ball” is practically financial catnip.
The city of Peoria is preparing for what happens if it doesn’t receive state revenues for its firefighters’ pension fund on time due to the COVID-19 money flow crunch.
The coronavirus pandemic is throwing a spotlight on stocks in the U.S. healthcare sector, home to the companies that could develop treatments, vaccines and improved diagnostics needed to tackle the greatest public health crisis in a century.
“Beware the ides of March,” a soothsayer told Julius Caesar in Shakespeare’s famous play of the same name. Whether you believe in superstitions or not, March of 2020 will go down as a historic month on Wall Street. After peaking on February 19th, the S&P 500 fell 34% in just 23 trading days, marking the fastest bear market ever.
New Mexico’s two large public retirement systems have already taken billion-dollar hits from a steep market downturn caused by actions taken in response to the coronavirus pandemic.