Opinion: The stock market will lose crucial support as millennials tap 401(k)s for cash

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Opinion: The stock market will lose crucial support as millennials tap 401(k)s for cash

 

Millennials, who primarily invest through retirement accounts, will need money as they lose their jobs because of the economic shutdown

 

Most Americans are leaving their investments alone amid the coronavirus panic.

Interestingly, only 13% of survey respondents added more to their investments in the past three months, according to this article on statista.com. Of those buy-the-dippers, the largest chunk were millennials.

There are two dynamics at play with this younger generation…

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