Financial News and Portfolio Management Discussion through February 29th

All the news you need to stay informed about what’s currently driving the market — courtesy of Raffa Wealth Management, LLC.

Global stocks plummeted over the week on concerns over the quick global spread of the coronavirus and the potential impact on the global economy. The S&P 500 plunged 11.4% and the Dow sank 12.6% over the week. It took just six days for the S&P 500 to fall more than 10%, the fastest decline from a record high since 1980. Abroad, the FTSE All World Ex US dropped 8.9% for the week. Oil plunged 16.1% to finish the week at $44.76 a barrel. Investors moved to safe haven assets with the 10-year Treasury yield ending the week at 1.13%, its lowest level ever.

Fed Chairmen Powell announced the Fed was ready to cut the Fed Funds Rate to help support the US economy.

There is no guarantee that any investment strategy, including those described here, will be successful. Any investment or investment strategy can lose money. Past performance does not guarantee or predict future results. You should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Raffa Wealth Management, LLC. This information was gathered from reliable sources but we cannot guarantee accuracy. Indexes do not reflect the fees associated with actual investments and such fees would reduce the performance illustrated.
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