(WEHT)– The Coronavirus has made a huge impact on Wall Street. The United States is making budget requests to address the effect on the markets.
We spoke with local financial experts about what this could mean to you. They say being an investor isn’t a bad thing right now, and things in the market are likely to change anyway.
As people around the country are scrambling seeing stock numbers dropping. Local experts say this isn’t a big worry.
“This is no reason for concern. It’s just a natural way for the economy to function in the stock market to function,” Khaled Elkhal, associate professor of finance at the University of Southern Indiana says.
It is, however, true the deadly Coronavirus is a blame for the 3.4% drop in the U.S. stock market. But experts say that isn’t the only cause.
“Regardless of the Coronavirus, we should expect a further correction in the stock market,” Elkhal explains.
With more than 2,600 deaths around the world and more than 400 people tested in the U.S. products we would normally receive from other countries aren’t getting here.
“Have the chain disrupted especially in china and that affects the whole world including the U.S. This is no reason for concern. It’s just a natural way for the economy to function in the stock market to function. “
But on the wall of the Romain College of Business at the University of Southern Indiana, the details are clear. With data showing how goods and companies are doing during this questionable time. But we should prepare to see it dip lower.
“I think we should see a further decline in the stock market regardless of the coronavirus. So again we should not be surprised if we see another 2-3% down.”
He says right now people with 401k plans shouldn’t worry because that’s a long term investment.
(This story was originally published on Feb. 24, 2020)