Here's what investors need to know about the uncertainty both in the markets and when it comes to employment--as many have faced unemployment due to the economic fallout from the coronavirus.
Jim Cramer wrote, in his Real Money column Wednesday, March 18, about six ways "to start thinking big now and beat back the crisis."
"In times of crisis, and we are in a doozy of a crisis, you can't do enough to help make things better...Everything is going wrong at once. So in the interest of being constructive, which there is certainly not much of lately, let me tell you what I would do, what big thinking means, and what needs to happen to stop the tsunami of selling," wrote Cramer. "First, the government has basically mandated that bars and restaurants close to stop congregation. That's $309 billion in wages, at least in 2018, according to the Bureau of Economic Analysis, as reported by the New York Times. Payrolls in hotels and lodging? $87 billion. Entertainment? $63 billion. Airlines? $59 billion."
But, with all of these closures, comes job loss. So what should an investor do if they've been laid off? How should anyone be approaching their portfolios?
Cramer answers these questions and more in the video above.
And, in case you missed it, watch Cramer tackle five of the top questions around COVID-19.
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