Coronavirus is the global topic of conversation and has taken the world by surprise. While Brexit worries had a big impact on the UK stock market, COVID-19 is making waves in stock markets all around the world.
Before the pandemic emerged, the world was storming away, and we saw the stock markets reach record highs. The fundamentals were strong, and we saw unemployment levels at record lows. Since the start of the market falls on 20 February, the global stock market has tumbled more than 25%, bringing the longest bull-market in history to a screeching halt.
How have stock markets been affected?
This pandemic has caused chaos around the globe, and now governments have had to step in and act which has created problems for most businesses based on their quarantine measures.
Travel and leisure companies are the first to be impacted, but the knock-on effect could see businesses across many industries obstructed.
On the contrary, some companies are also benefitting from the pandemic, such as delivery companies, cleaning product manufacturers and technology companies, however these are in the minority.
The majority of markets capitalise on consumption. In the UK, our GDP function is constituted by approximately 60% consumption, and with the lockdown, this is anticipated to drop sharply.
It’s not all about Coronavirus though. Oil is also playing a part in the recent volatility. Saudi Arabia has sparked an oil price war with Russia, causing oil prices to plunge last week.
We are here to guide you through the storm.
The Private Office (TPO)
The Private Office – a multi award-winning team of independent, Chartered Financial Planning experts to protect and grow your wealth. Based in Leeds, London and Bath, we look after clients across the UK with their financial planning needs. We act for more than 2,900 individuals, businesses, charities and trusts offering tailored advice across a breadth of sectors
The firm was established in 2008 in response to the increasingly impersonal nature of ‘mass-market’ advice, and was founded on the principles of providing bespoke, tailored and thorough financial counsel to all clients.
TPO – The Achievements
Being named as one of UK’s Top 25 Financial Planning Companies and one of the best investment advice firms on the market, we’ve received several wealth management, tax, and financial adviser awards, certifications, and recognitions from publications and organisations acknowledging our financial expertise, service excellence, fair value, and trust.
Combining the skFinancial Advisor UKs and experience of over 20 years with a diverse team of financial experts, TPO offers to create a comfortable and prosperous future.
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