REUTERS: With one of Wall Street's wildest weeks in recent memory now in the history books, investors are bracing for more uncertainty and big market swings ahead.
"Right now, we view investing in the current environment using the hackneyed phrase of 'catching a falling knife,'" said Richard Bernstein, chief executive of Richard Bernstein Advisors in a note to investors and conference call."We see no need to rush into markets." They are also warning investors to brace for more alarming headlines concerning the virus' spread in the United States.
The United States has in recent days received a taste of the types of disruptions that the virus has wrought in other countries, including Italy and South Korea. Investors have cheered moves by the Federal Reserve to add liquidity to markets and promises of fiscal support from the U.S. government, with markets ripping higher on Friday as President Donald Trump declared a national emergency.
Retail investors appear to be somewhat more optimistic than their institutional counterparts, a poll by wealth management research firm Spectrem Group showed.