CHICOPEE, Mass. (WWLP)– Investors may be waking up anxious Tuesday following a rough start to the week for the U.S. stock market.
The Dow Jones Industrial Average dropped more than one thousand points in just the first five minutes after Monday’s opening bell. It made a quick jump up throughout the day, but ultimately closed down 531 points. All this just three months after the Dow closed at an all time peak back in May.
Also on Monday, the Standard & Poor’s 500 stock sank nearly 4% bringing it down 9.5% over the last five days. But many watching the market closely argue Tuesday’s opening bell could be the start to a different kind of day.
Mark Teed of Raymond James and Associates told 22News it’s best to look at your investment portfolio long term and be careful not to be overly reactionary short term.
“Volitility can be your friend but don’t do anything rash when the markets are selling off, so I usually tell people in times like this to stay the course make sure your investment objectives are still good and stay where you are,” Teed said.
Some market experts are calling Monday’s dip a reaction to Asia’s plummeting markets and China’s slowed economy and recently devalued currency.