COMMENTARY

THE coronavirus has shaken markets, businesses and even the way people live, but as long as we are sensible and do not panic, Britain will be able to ride it out.

Last week saw the worst day for the FTSE 100 since the Black Monday crash of 1987.

Days of mounting losses have left investors and savers shaken and unfortunately markets will be volatile for some time yet.

Shares will probably fall further as the crisis still has some way to go before it is resolved.

That all said, with regard to your investments, the best thing you can do is sit tight rather than sell up. If you sell, all you do is crystallise your losses, guaranteeing you will miss out when markets eventually recover.

Those withdrawing money from their pension fund using drawdown need to stop doing so immediately.what you are doing is depleting your pension pot while it is shrinking. Leave it alone, otherwise you run the risk of emptying your nest egg and having to rely on the minuscule state pension. One of the notable things in the crisis is how people have cleared out supermarkets of things toilet roll, hand sanitiser, pasta and even paracetamol. This is ridiculous, selfish behaviour and potentially costly.

Say you have stockpiled four years’ worth of toilet roll and you try to get a refund on your excess supplies after the crisis has passed. You are likely to find that stores tell you to sling your hook, and rightly so.

These are trying times, but we have weathered tough times before and the same applies here. People just need to be sensible.