With another week of intense market volatility and uncertainty over the economic impact of COVID-19, we find ourselves in challenging but not unfamiliar circumstances. Like many of you, we’ve weathered crises like this before and have come out stronger on the other side. Modera has been around since 1983.
By now, you are undoubtedly aware the ADA recommended dentists postpone “elective procedures” through April 6 to help “flatten the curve” of the COVID-19 pandemic in the U.S. Since elective procedures are estimated to comprise >90% of modern dental practices, most offices are closing, with dentists coming in only for emergencies.
This week, the global financial markets got sick as a result of the coronavirus. Major U.S. stock indexes have declined about 8% over the past week while international stocks have fallen about 6% (2/18-2/26/2020). Hardest hit were stocks of companies that are related to travel or those that rely on components that are manufactured in Asia, such as technology companies and automotive manufacturers, as well as some retailers.