Coronavirus Market Questions 03-17

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 17 March 2020

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

Yep, another brutal day on Wall Street, the worst one yet. If the market is freaking you out, we're here to help, so please send us an email. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

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0:00.0	Welcome to the Jill On Money Emergency Coron virus Market Update. We are presented by
0:10.2	Marcus by Goldman Sachs. Wow, what a day. I am talking to you at 444 on Monday, March 16th, and markets have just
0:21.1	taken a nasty tumble.
0:23.6	We saw the Dow Jones industrial average drop by,
0:27.2	you ready for this?
0:28.2	Almost 3,000 points, a 13% drop. That's the worst single percentage loss for a day since the crash of October
0:38.1	1987.
0:40.1	The damage was widespread, a 13% loss in the S&P 500 index, a 13% loss in the NASDAQ.
0:48.0	Oh, and by the way, the Russell 2000 got clocked down 21% for those small stocks. All right, so what's going on? This
0:58.0	is all about uncertainty in the economy. There is no way to game out how this virus is going to impact
1:07.3	economic growth and that is causing investors to just throw in the towel until things subside.
1:15.0	Meanwhile, you may have financial questions.
1:18.0	We are here to answer them.
1:20.0	This is the place where we can hold your hand. Mark and I really want to help you out right now.
1:25.6	Our email address is Ask Jill at Jill onmoney.com. That's what Linda did. Her subject says second house. So here we go. She says that she recently retired.
1:37.1	Her husband is four to six years away from retirement. She says they're considering buying a house in the city. We plan on retirement. She says they're considering buying a house in the city we plan on
1:44.6	retiring in. We visit frequently we would be putting the majority of our savings
1:48.8	down and taking out a mortgage. We planned on keeping our current home for four more years because we need to stay in this city for employment.
1:55.5	We thought the plan was okay, but with everything crashing the way it is, we're thinking it may be foolish to put all of our savings in the house at this time. Yes, in fact not just now all
2:06.2	the time it's foolish. We do not want people to put all of their money in one single asset and that includes a house.
2:15.0	All right, Rich writes that he and his wife are teachers on break for the next two weeks at least.
2:20.0	Their paychecks are guaranteed until June 30th. Our first thought is how can we help our country get through this now and
	...

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