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Tuesday, March 5, 2024

Stock market gains continue, despite anxiety over the pandemic and chaos in Washington. Here’s what money experts say you should do

The coronavirus pandemic and chaos in the U.S. Capitol can't keep the stock market down.

While Americans may be in disbelief over the riots that saw lawmakers running for cover and caused a few members of the Trump administration to resign, the stock market just keeps ticking higher.

A flash poll by POLITICO/Morning Consult found 64% of registered voters said they were "worried" about the events that occurred at the U.S. Capitol on Wednesday.

Yet stocks rallied to record highs again on Thursday, with the Nasdaq closing above 13,000 for the first time. On Wednesday, when Trump supporters stormed the Capitol, the Dow Jones Industrial Average jumped more than 437 points, or 1.4%, a record close.

The market also ended 2020 at an all-time high, despite a pandemic that has seen more than 340,000 Americans die and millions lose their jobs.

"People look at the stock market and they shake their heads and they ask themselves, 'how can the stock market go higher when Main Street is doing so badly?'" said Mitchell Goldberg, president of ClientFirst Strategy Melville, New York.

"For a lot of people, it just reinforces that they are getting left behind and it reflects a growing wealth gap in this country," he said.

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