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Don’t waste the stock market crash! I’d invest £2k in these 2 bargain FTSE 100 stocks in an ISA

This year’s stock market crash has been brutal, but now isn’t the time to panic. A share price crash isn’t a rare one-off moment, but something that happens pretty regularly. It’s also a great opportunity to buy bargain FTSE 100 stocks inside a Stocks and Shares ISA, for tax-free returns.

Today’s crash may feel like the end of the world at the time, but share prices will eventually recover. They always have in the past. If you spend £2k, or any other sum, on bargain FTSE 100 stocks today, you’ll reap the rewards when the stock market recovery kicks in.

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Look to buy shares you intend to hold for 10 or more years. That way, even if share prices crash further, you should still make a bumper profit in the longer run. Hopefully by 2030, the coronavirus stock market crash will be a blip, and you’ll be a lot richer as a result of actions you took today.

I’d buy bargain FTSE 100 stocks

If the thought of investing makes you nervous right now, and you could stick to established, blue-chip FTSE 100 stocks, and the following two look tempting.

1. Persimmon to keep calm and carry on

The Persimmon (LSE: PSN) share price has taken a hammering, falling by half. That’s hardly surprising, given Covid-19 has forced it to mothball its construction sites, stop selling homes, and cancel its interim dividend. Its final payout, slated for July, has also been postponed. Fellow housebuilders Taylor Wimpey, Redrow and others have also cancelled their payouts.

Persimmon’s management says the company is ready for a “material slowdown in new sales,” and its balance sheet looks in good state. It has cash of £610m (although that’s down from £844m at the start of the year), boosted by a £300m bank facility.

Nobody knows how long the housing market will be frozen, but I believe long-term demand for property in the UK remains strong. Persimmon’s stock could outpace the market when the recovery comes. The FTSE 100 is up 2.02% at time of writing, but the Persimmon share price is up 11.67%, giving you another reason to buy this bargain FTSE 100 stock.

2. Hargreaves Lansdown looks up

The Hargreaves Lansdown (LSE: HL) share price has fallen by a quarter this year, a more modest dip than Persimmon. At the same time, it’s never been busier, as its customers rush to either buy or sell their shareholdings, in response to the stock market crash.

This will drive up the investment management firm’s trading fees in the short run. The downside is that assets under management will fall, and percentage rate fee income will fall with them.

I’m pleased to see the group’s financial position is strong. It’s debt free and boasted net cash of £318m at the end of last year. Hargreaves Lansdown should survive this crash in decent shape, and recover strongly when the coronavirus eases.

I think today’s stock market crash is an excellent time to buy bargain FTSE 100 stocks like these inside your Stocks and Shares ISA.

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Harvey Jones has no position in any of the shares mentioned. The Motley Fool UK has recommended Hargreaves Lansdown. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.