The current hysteria over coronavirus has caused a major drop in DJIA of over 1,700 points.
I had already decided to close out my investment account (selling) and transferring the funds to an insured passbook account for the duration of this mess. Once everything goes back to normal, I'll open a new investment account.
My account took a major beating and I can't afford to lose much more. My banker is handling it.
UPDATE:
Instead of passbook accounts, I moved my funds to money market accounts. They pay better and the current "zoo" doesn't affect them.
I had already decided to close out my investment account (selling) and transferring the funds to an insured passbook account for the duration of this mess. Once everything goes back to normal, I'll open a new investment account.
My account took a major beating and I can't afford to lose much more. My banker is handling it.
UPDATE:
Instead of passbook accounts, I moved my funds to money market accounts. They pay better and the current "zoo" doesn't affect them.
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