HEAT ALERT

Hot and humid weather moves in. Steamy heat will peak Thursday into Friday on Long Island

Financial planners: Don’t make rash decision over midweek Dow drop

The Dow may have given investors whiplash in the last 24 hours, but financial planners say it’s not the time to panic or make any rash decisions.

News 12 Staff

Aug 15, 2019, 9:23 PM

Updated 1,769 days ago

Share:

The Dow may have given investors whiplash in the last 24 hours, but financial planners say it’s not the time to panic or make any rash decisions.
The Dow ended Thursday up just over 99 points. It comes after Wednesday’s 800-point loss amid growing recession fears.
Financial planners say even though the market took a hit, now is not the time to make rash decisions.

“You should never be panicking because panicking is always an emotional response, and when you have an emotional response in a rational world of investing, you almost always shoot yourself in your foot,” says financial planner Michael Kresh.
Kresh says the looming trade crisis with China, low interest rates and a world economy seeing trouble has contributed to volatility in the market.
There’s also the inverted yield curve, an economic indicator of a looming recession.
“Yes, it’s inverted, and in the past it’s been a signal for recession, but it’s only one piece of information,” says Kresh.
Kresh says unemployment and inflation are low and that's hedging against the inverted federal bond yield numbers. So for the moment he says, investors should wait things out.
Financial planners say there are adjustments one might be able to make in their portfolio to weather recent volatility in the market, but they add its best to speak to a professional for the best advice.
 


More from News 12
1:41
Police: Justin Timberlake charged with DWI in Sag Harbor

Police: Justin Timberlake charged with DWI in Sag Harbor

2:20
HEAT ALERT: Very warm and humid conditions to kick off summer season

HEAT ALERT: Very warm and humid conditions to kick off summer season

1:13
Retired Bay Shore elementary school teacher accused of sexually abusing students faces child porn charges

Retired Bay Shore elementary school teacher accused of sexually abusing students faces child porn charges

2:00
Long Beach City Council to vote on emergency powers for city manager following shooting, illegal gathering

Long Beach City Council to vote on emergency powers for city manager following shooting, illegal gathering

2:00
Sachem, West Babylon residents to revote on school spending plans

Sachem, West Babylon residents to revote on school spending plans

1:55
FAA set to force LI air traffic controllers to relocate to Philadelphia in weeks

FAA set to force LI air traffic controllers to relocate to Philadelphia in weeks

0:21
Suffolk DA: Alleged MS-13 gang member indicted for attack that blinded 2 men

Suffolk DA: Alleged MS-13 gang member indicted for attack that blinded 2 men

0:22
Police: Man wanted for stealing tools, security camera from Coram garage

Police: Man wanted for stealing tools, security camera from Coram garage

1:26
Made on Long Island: Kate’s Vintage Rose in Stony Brook

Made on Long Island: Kate’s Vintage Rose in Stony Brook

2:17
Long Islanders prep to beat the heat

Long Islanders prep to beat the heat

2:03
Long Beach completes first full day with new restrictions

Long Beach completes first full day with new restrictions

1:50
Mineola resident says Confederate soldiers should be removed from memorial

Mineola resident says Confederate soldiers should be removed from memorial

2:05
Village of Hempstead says residence where fire broke out was ‘unfit’ to live in

Village of Hempstead says residence where fire broke out was ‘unfit’ to live in

1:48
Man sentenced to up to 21 years in prison for crash that killed married couple in Laurel Hollow

Man sentenced to up to 21 years in prison for crash that killed married couple in Laurel Hollow

0:40
Freeport man sentenced to up to 18 years in prison for DWI crash that killed 3

Freeport man sentenced to up to 18 years in prison for DWI crash that killed 3

2:03
Nassau County reports budget surplus again, wants end of NIFA control over finances

Nassau County reports budget surplus again, wants end of NIFA control over finances

1:43
Main Street Long Island: Showcasing the best of Lynbrook

Main Street Long Island: Showcasing the best of Lynbrook

1:36
Paws & Pals: Dogs up for adoption at Remember Me Rescue NY on June 17

Paws & Pals: Dogs up for adoption at Remember Me Rescue NY on June 17

0:29
Nassau police: 2 women charged in Franklin Square home burglary

Nassau police: 2 women charged in Franklin Square home burglary

2:15
Police: Woman arrested for motorcyclist hit-and-run in Patchogue

Police: Woman arrested for motorcyclist hit-and-run in Patchogue