There’s been a lot of volatility in the stock market this year, and especially this week. But that doesn’t mean you need to make any changes to your investments.
The Dow Jones Industrial average had been losing ground since late last week.
But that came to a stop Thursday when the Dow closed 209 points higher. That followed a 600 point drop on Monday.
Raymond James & Associates Financial Adviser Mark Teed told 22News concerns about tariffs, interest rate hikes, and the drop in oil prices have all been contributing to the recent stock market losses. But Teed urges you to not panic and to be patient with your investments.
“When you have long-term plans for retirement most of the time the best thing to do is nothing,” Teed advised. “I would recommend people take a hard look at what they are doing and just say where they are.”
The Dow Jones Industrial Average has dropped more than 2,000 points since early October.
Teed recommends investing for the long term, and to have a diversified portfolio, to minimize your risk and exposure to any one sector.