I see MarketWatch has a headline of “Panic Selling Reached in the Stock Market”. Markets are off less than 2%–not sure any of us that were invested on Black Monday, 1987 would call the current fall a panic.
I am watching preferreds and baby bonds closely–and actually the average price is up 2 cents since yesterday. There are wiggles – plus and minus 1% in some issues, but that is true everyday.
What I am specifically watching for is the ‘baby getting thrown out with the bath water’–so far the baby is safe. Obviously this could change–but we need a real panic–multiple days to make that happen in a big way.
For the newer investors–take a deep breath–go get a coffee and resist doing anything crazy such as going to all cash–this too shall pass.