As the political climate here in the United States remains bitterly partisan resulting in the Senate unable to pass the emergency stimulus bill, the world stock markets are reacting with extreme volatility to this uncertainty, as the markets hate uncertainty. Once some form of a stimulus package is agreed upon and passed, chances are we will see favorable market reaction. When we experience such a rapid, panic based decline in equity prices in such a short time period the ensuing rebound can be quite explosive as in 1987 and 2009 and many times in between. Missing out on these periods make full recovery take much longer to achieve.
On a positive note it appears that the day to day selling is getting less severe as bargain hunting buyers are starting to make an entrance, according to the underlying indicators. The deaths in China appear to be in dramatic decline and in Japan and South Korea they have actually resumed practice baseball games. Stores and restaurants are also returning to normal in China including big names such as Apple, IKEA, and Starbucks.
We remain fully committed to help you get through and eventually prosper through these trying times. Remember, our office remains staffed and stands ready to provide uninterrupted service as needed.
The Lesjak Planning Team