CHICOPEE, Mass. (WWLP) – An all around bad day on Wall Street. The Dow dropped 372 points amid controversy over whether President Donald Trump will be able to get congress to approve his policies meant to boost the economy.
22News asked financial adviser Mark Teed if you need to be concerned about your investments.
“Mr. Trump got himself into a little bit of trouble and the market responded negatively. It looks like if his agenda doesn’t get through, it’s not good for Wall Street,” Teed told 22News.
Since Trump’s election, the stock market has continuously hit record highs, and has grown by 2,400 points. Back in March, the market closed above 21,000 for the first time in history. Just Tuesday the Nasdaq and S&P 500 set new records.
“You have to put in context. The market has been doing very well. You have to look at things over a year, three years, five years, 10 years. Then think of your goals. Don’t get disrupted. Don’t let one day’s event ruin your investing career,” Teed told 22News.
Only time will tell as to whether today’s plunge is just a blip in the radar or the start of a trend. However keep in mind, even with the drop, the DOW still closed above 20,600, which compared to a year ago is still very high.