NEW YORK (Reuters) – The deepest U.S. stock market sell-off since the 2008 financial crisis is prompting some financial advisers to tell wealthy clients to hold steady or even increase their equity exposure if they have at least 10 years until retirement.
FILE PHOTO: The final numbers of the day are displayed above the floor of the New York Stock Exchange (NYSE) stands empty as the building prepares to close indefinitely due to the coronavirus disease (COVID-19) outbreak in New York, U.S., March 20, 2020. REUTERS/Lucas Jackson/File Photo
Remaining fully invested in stocks despite the volatility and economic shocks from the rapidly spreading coronavirus is easier said than done. Yet financial advisers predict a broad economic recovery without a depression, thanks in part to extraordinary Federal Reserve measures to backstop financial markets.
These advisers said they believe investors with a longer timeline have an opportunity to buy equities at low valuations.
The benchmark S&P 500…
