U.S. equity markets skidded last week with the Dow Jones Industrial Average suffering its biggest weekly point-loss on record amid escalating concerns the COVID-19 pandemic will cause a global recession.

U.S. equity markets on Friday retraced over 90% of Thursday’s historic 9.5% single-day plunge that officially ended the longest bull market on the record books.

Fed cuts rates to zero and unveils package to boost bond liquidity. Monetary policy alone is not enough. Fiscal policy is needed. During turbulent times, it’s important to stay diversified and keep in touch with your financial professional.

Financial markets are reacting to the global spread of the COVID-19 virus. Investors are feeling anxious as markets are moving sharply lower so our team wanted to keep you informed and try to cut through the market noise.

U.S. equity markets pared more than half of their 4% intra-day losses on Friday, limiting the broad market S&P 500 benchmark index daily loss to 1.7% and ended the week fractionally higher.