Local Expert Explains Worst Dow Jones Single-Day Drop Since 2008
The S&P 500 dropped more than seven percent today triggering a circuit breaker causing trading to stop for 15 minutes until cooler heads could prevail.
DULUTH, Minn. – Monday was the stock market’s worst day in more than a decade.
Stocks plunged in light of a steep drop in oil prices along with continued coronavirus fears.
The S&P 500 dropped more than seven percent today triggering a circuit breaker causing trading to stop for 15 minutes until cooler heads could prevail.
According to financial professionals, the steep drop caused people whose retirement funds depend on the stock market to worry about the money they have saved.
One professional encourages people to stick with the market and not sell low.
Though it was a rough day for many, the day also held some positive for young people.
“If you are a young person, continue to put money into your 401K this is a great time to start saving if you haven’t’ saved for those of you getting tax returns put some money away in the stock market, take a little of what you get back and invest for your future,” said Barry Bigelow, lead advisor of Great Waters Financial Duluth office.
The professional Fox 21 spoke to said that the market will bounce back eventually when the fears are alleviated whether it be with coronavirus or the oil market.
