NEW YORK: This month’s sell-off for stocks marked the first big test of investors’ mettle in years. And many ended up doing exactly what the experts were recommending: hold steady.

Even as stock markets tumbled around the world, putting a halt to an unusually calm and strong ride upward, many investors resisted the urge to sell in a panic and lock in the losses. Others plugged even more cash into their trading accounts after seeing prices for S&P 500 index funds drop by 10 per cent within a couple weeks.

At Fidelity’s retail brokerage, for example, customers continued to put in more buy orders than sell orders after the S&P 500 began falling from its peak set on Jan 26. Younger investors led the charge into stocks.

“Millennials and Gen Xers are definitely taking advantage of these prices and taking advantage of the sell-off,” said Scott Ignall, senior vice president and head of online brokerage technology at Fidelity.

Experts typically recommend that investors stay the course when stocks go through a bout of volatility.

Published in Dawn, February 18th, 2018