From retirement savings to mortgages to credit card interest rates, there are many areas of the economy that the coronavirus could touch. Here's what we know now about the ways the outbreak could affect your money.
But if fears of how the coronavirus could damage your net worth are keeping you up at night, it's also a good time to revisit the risk you're taking on.
This is a good time to do a gut check to see if you can handle this level of market volatility, Cheng said. If you can't, you may want to move to safer investments. It should be a longer recovery for those airlines or travel-type stocks, even more so than it would be for the semiconductor or tech companies."You may know that now is the time to get out," Cheng said. "But you're not going to know when to get in."
You may also want to reevaluate your exposure to multinational companies that rely on China or Asia for their supply chains, Milan said. That includes Apple, for example, as well as semiconductor companies.
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