NORTHAMPTON, Mass. (WWLP) – The stock market is in correction mode, and that may make some investors rather nervous. A correction is defined as a market loss of between 10 and 20%. It is not unusual, and happens about every 26 months.
If you have checked your portfolio, you have seen the losses. Still, experts say to stay the course and not to panic. A correction was expected, and trying to time the market is generally not a good idea.
Experts say that despite worries about China’s economy and the global oil market, unemployment is down, wages are starting to increase, and interest rates remain at near-record lows.
Jon Weissman of Granby told 22News that he is more worried about the local economy than his personal portfolio.
“The stock market goes up and down but the real question is ‘Is Northampton thriving? Are towns thriving? Is there enough income in circulation?’ And there is not. There is not enough income in circulation is western Mass because people are paid too low,” Weissman said.
As for when the market will go from a bear to a bull, it’s hard to tell. A new jobs report expected to be released Friday will let us know a lot more.
Also when the market is down, it is typically a good time to buy- you can stretch your investment dollar a little bit further.