JACKSONVILLE, Fla. — What happens in Asia can have a big impact on your wallet.
If you think the coronavirus isn’t affecting you, think again. There’s a good chance you lost money today (Tuesday). Anyone who has a 401k is invested in the stock market, whether they know it or not.
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“It’s a lot. I mean, very seldom do you see it’s two days in a row of 3% drops,” said Don Wiggins, president at Heritage Capital Group.
Wiggins said some of his clients are worried, and reaching out to him.
“I’ve already heard of people panicked. I had a conversation with someone earlier, this topic came up in business,” he said.
But Wiggins said you shouldn’t panic, but keep an eye on it.
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“I don’t think there’s anything you can do at this point, except monitor it,” Wiggins said.
Tuesday, the CDC said the coronavirus will almost certainly spread in the United States. Even if you don’t get sick, the spread of the illness in Asia could still affect you.
“Think how many goods are made in China. If that supply chain, if that manufacturing capacity gets disrupted or any other area that’s affected, South Korea, then it’s definitely going to have a spillover effect,” he said.