The Houston Chronicle recently published an article covering yesterday’s stock market decline, which saw the Dow Jones Industrial Average drop 2,000 points. Fears related to the new coronavirus and uncertainty surrounding the upcoming presidential election are likely causes for what quickly became the worst day the stock market has seen since the 2008 financial crisis.
Given the recent losses, anxiety amongst investors has risen. The article offers up the advice of financial experts, who all share a similar opinion. Their verdict? When the markets plunge, stay calm and stick to your plan.
Financial experts suggest that while the declines may affect short-term investors, history has shown that stock markets tend to rise over the long haul. President of Horizon Wealth Advisors, Larry Maddox, is quoted in the article specifically addressing these market trends, stating, “In our view, these are short-term market gyrations. And they’re terrible, but over the long haul, we know that these short-term ups-and-downs are the price of the long-term gains you get through the market.” Read the full Houston Chronicle article to learn more about Monday’s crash and economic projections for the future.
Horizon Wealth Advisors is a Houston based fee-only wealth management firm. As a fiduciary advisor, we specialize in helping successful individuals and families understand, organize, and manage their often complex financial situations. Horizon offers integrated financial planning and investment management services.