TONIGHT, HELPING YOU GET THE FACTS ON WHAT YOU SHOULD DO. YEAH, DEREK, ONE EXPERT TELLS US THAT SHE HASN’T SEEN THE MARKETS THIS BAD SINCE THE COVID 19 PANDEMIC. SHE’S ALSO WARNING FOLKS TO BE PATIENT. PEOPLE WITH AN EYE TO THE STOCK MARKET THIS WEEK ARE SEEING RED. I TRY NOT TO THINK ABOUT IT. IT’S IT’S SCARY. FRIDAY, WALL STREET WITNESSED ITS BIGGEST PLUNGE SINCE THE COVID 19 PANDEMIC, AND THE DOW FALLING MORE THAN 2200 POINTS. THE NASDAQ DOWN ALMOST 1000, AND THE S&P 500 DROPPING MORE THAN 300. I DON’T KNOW WHAT’S GOING ON RIGHT NOW. IT’S A LOT GOING ON. THIS IS PAINFUL FOR EVERYBODY. THIS IS AS BAD AS I’VE SEEN. ASSOCIATE PROFESSOR OF MANAGEMENT AT MARQUETTE UNIVERSITY, MARGARET HUGHES. THERE IS A TREMENDOUS AMOUNT OF UNCERTAINTY OUT THERE, AND INVESTORS DO NOT LIKE UNCERTAINTY. UNCERTAINTY, HAVING REAL WORLD IMPACTS ON PEOPLE’S RETIREMENT ACCOUNTS. DO YOU HAVE A K. I DO. HAS IT GONE DOWN IF YOU DON’T MIND. IT SURE HAS. HUGHES SAYS THE BEST COURSE OF ACTION IS TO WAIT. IF YOU’RE ALREADY FULLY INVESTED. AS PAINFUL AS THIS IS, AND IT’S PAINFUL FOR ME AS WELL, IT IS PROBABLY BEST TO JUST HOLD ON AND AND, YOU KNOW, WAIT FOR THE MARKET TO REBOUND. I AM JUST LETTING IT SIT AND HOPING IT IT TURNS AROUND. WHAT SHOULD PEOPLE DO WITH THEIR MONEY AT THIS POINT? AT THIS POINT, SELLING WOULD BE A FOOL’S ERRAND. ESSENTIALLY, YOU’LL BE SELLING LOW INSTEAD OF HIGH. THE MARKET WILL REBOUND. IT’S JUST A MATTER OF HOW LONG IT’S GOING TO TAKE. AND THAT IS THE BIG QUESTION. A LOT OF YEARS HAVE BEEN ASKING US HOW LONG COULD THIS TAKE? WELL, DEREK, THAT EXPERT TELLS US THAT IT IS HARD TO PREDICT HOW LONG THAT WILL TAKE. BUT SHE DID SAY THAT THOSE RETALIATION TARIFFS FROM CHINA COULD GIVE OTH
Worried about your 401(k)? Here’s what a market expert says
The stock market saw its worst closing, Friday since the COVID-19 pandemic
As the stock market closed with the worst numbers since the COVID-19 pandemic, Friday, 401k accounts also started dropping.”I try not to think about it, it’s scary,” Jeannine Voscell said.The Dow fell more than 2,200 points, the NASDAQ plunged almost 1,000 and the S&P 500 dropped more than 300.”This is painful for everybody, this is as bad as I have seen,” Margaret Hughes, an associate professor of management at Marquette University, said.Hughes said that a combination of U.S. tariffs, as well as retaliation tariffs from China, was the key cause of the plunge.”There is a tremendous amount of uncertainty, and investors do not like uncertainty,” Hughes said.That same uncertainty has worked its way into the minds of Wisconsinites, who told 12 News they now are worried about their 401(k) accounts and stock investments.”If you are fully invested, as painful as this is, and it is painful for me as well, it is probably best to just hold on and wait for the market to rebound,” Hughes said.Hughes said that while some people may be ready to “panic sell,” the best course of action is to have patience. “At this point, selling would be a fool’s errand. Essentially you will be selling low instead of selling high. The market will rebound it is just a matter of how long it will take,” Hughes said.
MILWAUKEE —
As the stock market closed with the worst numbers since the COVID-19 pandemic, Friday, 401k accounts also started dropping.
“I try not to think about it, it’s scary,” Jeannine Voscell said.
The Dow fell more than 2,200 points, the NASDAQ plunged almost 1,000 and the S&P 500 dropped more than 300.
“This is painful for everybody, this is as bad as I have seen,” Margaret Hughes, an associate professor of management at Marquette University, said.
Hughes said that a combination of U.S. tariffs, as well as retaliation tariffs from China, was the key cause of the plunge.
“There is a tremendous amount of uncertainty, and investors do not like uncertainty,” Hughes said.
That same uncertainty has worked its way into the minds of Wisconsinites, who told 12 News they now are worried about their 401(k) accounts and stock investments.
“If you are fully invested, as painful as this is, and it is painful for me as well, it is probably best to just hold on and wait for the market to rebound,” Hughes said.
Hughes said that while some people may be ready to “panic sell,” the best course of action is to have patience.
“At this point, selling would be a fool’s errand. Essentially you will be selling low instead of selling high. The market will rebound it is just a matter of how long it will take,” Hughes said.
