Stock Market Plunges Amid Coronavirus Pandemic

KIMT News 3's Alex Jirgens is talking to a local financial advisor

Stock market-bmo-2 to say the effects of covid-19 are being felt on wall street would be an understatemen t... instead of soothing the markets...anoth er emergency interest rate cut from the federal reserve had the opposite effect.

The dow plunged more than 22-hundred points at opening and trading halted for 15 minutes.

Kimt news three's alex jirgens is finding out if investors are pulling out of trading - or staying put.xxx stock market-pkgll-1 stock market-pkgll-2 it's grim news for those investing in the stock market.

The dow jones closed nearly 3,000 points at the end of the trading day today - the worst point drop in history.

So should you make the decision to pull out of trading?

Lowerthird2line:stock market affected by coronavirus kimt news 3 investment banker david jarvill - has been astounded by the recent turbulence in the markets.

Lowerthird2line:david jarvill, cfp first security investment services "the volatility that has been in the system has been just phenomenal over the last 8 days.

We don't see moves like this on a regular basis."

Lowerthird2line:stock market affected by coronavirus kimt news 3 jarvill believes there is a key difference between the dramatic 2008 drop in the dow and what we are seeing now.

"this is a healthcare crisis that is turning into a financial crisis.

At that point, it's completely different.

It's a panic."

There were a number of so called circuit breakers put in place after black monday in 1987 to stop panic selling.

"most trading's done electronically.

At that point, you don't need to necessarily have a group of people gathered at any one place to trade stocks."

Jarvill encourages investors to remain calm.

"if you have a long term time horizon, and your goals are a little ways off, at that point, it doesn't make sense to be a seller."

Before you make any changes - it's best to visit with your financial advisor.

In north iowa - alex jirgens - kimt news 3.

/ also - the s and p 500 was down nearly 12 percent.

Today's drastic drop for the dow is the worst performance by percentage since october of 19-87..

The day alex referred to as black monday.

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