Everybody was affected by the COVID-19 pandemic in different ways. It initially caused concern for investors, as large corporations and small businesses alike were impacted. The market hasn’t completely recovered from the damage but is improving. Robert Wilkos would like to explain how it’s changed and help current and potential investors make informed decisions.
During the early days of the pandemic when it was just discovered that the virus was here, investors were leerily and soon began taking their money out of the market to protect from any further losses. It caused the stock market to basically crash.
As businesses closed down temporarily, the stock market had little to no growth, except in certain pandemic-proof industries.
While much of the market took a hit, certain industries were still providing high returns for investors. These industries included the ones most necessary for the times. Robert Wilkos would like to point out that these were the industries vital for basic needs, such as healthcare, food, and natural. With more people working from home, software stocks were also on the rise.
As the real estate market crashed, this industry took a great hit. Ultimately, this triggered a rise in costs in home prices once the country was trying to recover from mass shutdowns. Entertainment and hospitality-drive companies couldn’t offer their services, so unsurprisingly, this led to a drastic fall in these stocks.
Once life was starting to resume at least somewhat normally, Robert Wilkos noticed stocks were gradually going back up in value. More people were willing to invest, which contributed to slight growth. However, initially, as the country began recovering, and even still now, Wall Street has experienced minor hiccups along the way — times when stocks have fallen.
Travel has taken a hit during the pandemic. Although they’re starting to bounce back, the travel industry still isn’t in full force at the moment. And truthfully, Robert Wilkos firmly believes that these industries may take a bit more time to recover than average. With regulations about how they can operate and people who simply won’t take the risk of traveling, these industries may not see a full recovery until post-pandemic.
While Wall Stress is thriving in some areas and still not back in full force in others, variants could potentially change the market once again. Although investors like Robert Wilkos are hoping they don’t affect the market, it’s very possible one could arise that does affect certain industries for the negative. Overall, the market was drastically impacted by the pandemic. This isn’t shocking, though. The future of the market is looking bright but still isn’t at pre-pandemic status.