July 24, 2020 Coronavirus Is Surging in the U.S. — Could the Pandemic Crush Your 401(k) Again?

Summary: by Mallika Mitra Coronavirus cases are surging again in many parts of the country. Because the pandemic hobbled the stock market in March, you may once again be wondering: “Will my retirement savings be okay?” The average 401(k) balance shrank by 19% in the first quarter of 2020, according to Fidelity Investments. This came as the S&P 500 dropped 12.5% over the month of March. People took notice — not action.