It’s been a rollercoaster ride of a summer– first Greece and now China. If you haven’t been following, the Chinese government recently devalued their currency creating fear about future global economic growth. It’s caused some panic selling in the market, essentially erasing the gains that markets have made this year.
So what does this mean for you? Not much. Stock market corrections happen all the time, and so do recoveries. It’s important to maintain your strategy and keep large drops in perspective. If you’re five or more years from retirement, you may consider adding more to your Wealthsimple account. While short-term performance is unpredictable, these dips are historically great buying opportunities for long-term investors.
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