There are three historically tested ways to protect your investments in a crisis. That’s according to Patrick Nolan of BlackRock, who offers advice on how to persevere through a correction. There’s good news on the tax front, however. Tax payers are going to be given a 90-day reprieve on federal taxes from the April 15 tax deadline. What about state taxes? Darla Mercado of CNBC explains the details. The chief economic advisor at Allianz believes the world may be going into recession. A key concern is how long the downturn lasts. He discusses the situation with CNBC.
What Do I Do With My Portfolio Now? Three Things To Consider –Perspective is crucial in times like these. History is not only a good reminder of the inevitable ups and downs of the market; it can also furnish lessons for what to do (and not do) when the inevitable happens again. Here are three to think about now. Read more…
Treasury And IRS To Delay Tax Payment Deadline By 90 Days — As part of its coronavirus response, the federal government will give filers 90 days to pay income taxes due on up to $1 million in tax owed, Mnuchin said in Washington. The reprieve on that amount would cover many pass-through entities and small businesses, he said. Some state tax deadlines may also be delayed. Read more…
El-Erian Sees Stock Market Decline Reaching 30% From Highs And The World Going Into Recession — The chief economic advisor at Allianz said Thursday that investors should not expect a quick recovery in stocks when a bottom is finally reached. “We’re going to come back. We’re going to turn around, but it is going to be a difficult journey,” El-Erian said. Read more…
John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller