Russell Investments: A clarion call to action
Courtesy of Michelle Seitz, Russell Investments, Posted 06 Jul 2020
As I reflect on the last four months relative to my 30-plus years of experience with massive disruptions, the COVID-19 pandemic combines facets of them all. The heart-pounding drop of 22.6% on October 19, 1987i, occurring mere months after I began my career managing money, abruptly woke us out of a five-year bull market slumber. The tragic events on September 11, 2001, and other global terrorist attacks left us fearing for our lives and altering our daily behaviors. The SARS outbreak in 2003 reminded us of the devastation that could be wrought by a pandemic, but it was regionally contained. The 2008 financial crisis revealed the darker side of a complex, globally interconnected world and the power of central bank interventions. Today, this crisis wrought by the COVID-19 outbreak has created public fear over lives and livelihoods, paralyzed global economic activity, halted our daily routines, and stoked widespread market uncertainty. Wherever you call home, this pandemic has impacted every part of your life.