Some are also considering bitcoin, but to a lesser extent than gold, the publication noted.
gets closer to hitting the debt ceiling because the metal is a long-time hedge against instability, according to Bloomberg, citing an investor poll from early May. Some investors are turning to gold as a safe haven as the U.S. If you want to shift into cash, the safest option may be to sock away the money in a high-interest savings account at an FDIC-insured bank that pays a rate of more than 4% or in certificates of deposit, experts say. Roth's firm isn't advising clients to sell and move into cash or other safe havens but, he added, it also "wouldn't be a crazy thing to be considering right now." What about putting money in cash, gold or bitcoin? "How do you get back in, that's the hardest question," he said. If you get that timing wrong, you could miss out on subsequent trading days when the market recovers. While an investor could sell stocks ahead of the projected default day in early June, it would be difficult to know when to get back into the market, Roth noted. But Roth and others note that such a strategy is essentially trying to "time the market," or predicting when stocks will rise and fall - a notoriously difficult tactic. Selling some investments and moving those assets into cash could be one way to protect yourself against a market plunge. financial markets," noted Tony Roth, chief investment officer at Wilmington Trust, who said more clients are asking about how they can protect their assets in such a situation. In case of a default, "There is a great chance that there is meaningful disruption to the U.S. It's uncertain how much stocks could tumble, but when the nation came close to crossing that line in 2011 the market plunged 17%. debt default would shake global financial markets, spurring many investors to sell stocks and bonds.
Should you move money out of investments?Ī U.S.
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