Thursday, April 2, 2020

Americans Worried, but Holding Fast

The stock market crash has left Americans wondering whether worse is yet to come, Allianz Life found in its latest quarterly market perceptions study. Sixty-three percent of participants in the study expressed concerns about a recession, up from 43 percent in the fourth quarter, and 57 percent thought that the market had not bottomed out.

But most of them are holding fast. Notwithstanding their anxiety over market swings, 52 percent of Americans said now was a good time to stay neutral and not take any action because of market conditions.

Americans in the survey also appeared optimistic that they would eventually be able to recover their retirement savings. Seven in 10 respondents believed that they would have time to rebuild their retirement nest eggs even if the market continued to fall.

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