Analyzing Wall Street’s recent plunge

SPRINGFIELD, Mass. (WWLP) – The stock market has had a difficult start to the year, but one western Massachusetts financial expert says that he is optimistic, despite the recent dip.

Last week, the Dow plunged almost 500 points over two-days and finished the week down 2%, and the S&P 500 finished the week down 3%.

Tim Suffish, financial analyst for St. Germain Investments, told 22News that what happened last week was a sign of a healthy market.

He said that there is a little fear with China’s currency issues, but here in United States, it is normal for the market to take two steps forward and one step back.

“Overall, the economy’s going the right way.  The trend is the most important thing.  The little hiccups along the way, we want to pay attention to and just make sure they’re not, they won’t turn into bigger issues,” Suffish said.

As for this recent hiccup, Suffish told 22News that it’s likely the market will get a little bit worse before it gets better, possibly dropping a few more percentage points before it goes back up again, but he also explained that many of the big U.S. companies people are investing in, are in the best financial shape they’ve been in years.

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