Retirement plan providers and investment advisors have been fielding calls from anxiety-ridden retail investors nonstop over the past 10 days, as President Donald Trump's barrage of tariffs sent U.S. and global equity markets into free fall. While declines are scary and disconcerting, advisors are largely telling their clients to stay grounded and make some strategic moves.
As recent market losses wiped out billions of dollars of value in retirement accounts, TIAA reported retirement participant call volume and online account logins rose nearly 30% after April 2, the day when the tariffs were announced. Henry Silva, wealth management advisor at Apollon Wealth Management, says clients have been asking about whether they should make major purchases like cars ahead of likely drastic price increases.
