I have a simple message for you this week, Hold Cash and Don’t Buy the Dip…yet!!
The global financial market, particularly the US recorded one of its worst weeks since March last year. The US NASDAQ, S&P 500, two of the world’s leading indexes fell to their lowest levels since March 2020 just before the pandemic, falling sharply by 2.7% and 1.9% on Friday. NASDAQ which mostly hosts tech-related stocks is down 11.9% this year while the broader S&P index that hosts some of the largest companies in the US is down 7.73%.
But before I get to explaining what is going on with global markets, I will explain why Cash is king if you are an investor.