To think this is another repeat of what happened in 2008?

[twelveminutespast]

I work at an investment firm so I'm watching the news closely re the crash that is currently happening at the moment on global stock markets. It is making me feel a bit worried to say the least, and I am worried that 2008 is repeating its self. I hold stocks and shares as well as my pension and they are taking a massive hit but I am trying to hold my nerve and not make any rash decisions!

Is anyone else sharing the same anxieties here?

Yes I work in financial services as does my partner. We are both concerned because we remember what happened last time and the ensuing panic. My partner’s employer has just taken a massive hit due to the nature of why they do. We have just signed a contract for a massive mortgage and I am now getting uneasy about it all.

2008 wasn’t pretty at all

In addition to the recent/current ‘economic shocks’ the Brexit shit hasn’t yet started to hit the fan.

The market is still higher now than the 2008 crash, think long term and don't make any sudden moves. Unless you're retiring right now dont worry about the pension. All easier said than done I know

To be honest I can see it being worse than 2008 as the virus is going to have a severe global effect on economic activity until a vaccine is developed and rolled out - maybe by winter 2021 if we are lucky.

Having said that if you are a way off retirement I would hold tight and see it as a buying opportunity at the virus peak next winter.

My Stocks and Shares ISA is crashing. I only have £450 in there, and it's already devalued by £53. I'm in no way educated in this arena, but this is surely a big percentage, even in the last two weeks.

I am going to leave it alone, but won't be adding to it for a while.

Some experts predicted another big crash as the underlying problems weren't actually dealt with 10 years, but instead were just air-brushed over. Just as last time, there was a trigger for the crash (sub prime market), this time, the trigger could well be Cvid19 - whatever causes it brings the whole thing crashing down. I think we're in for a painful year, followed by another decade of tightening our belts waiting for the next crash. Can't see the underlying problems being fixed, so it will just be papering over the cracks again and pretending things are OK!

Yep it's going to be an interesting 12 -24months! I've lost 10% in the last couple of days on my stocks & shares ISA. Needless to say I won't be putting anymore in it for a while!

BOE now panicking and reduced interest rates to lowest level in history.

www.bbc.co.uk/news/business-51831004

We're doomed!!

SELL SELL SELL SELL