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Valley expert: Don’t panic over market plunge

Published February 6, 2018 12:43 PM

The Dow Jones industrial average saw its largest one-day point drop in history Monday, which wiped out gains for the entire year and left investors worried.

In a volatile day on Wall Street, the Dow fell by about 1,600 points before closing at 1,175 points.

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Christian MacLean, president of MacLean Capital Advisors in Indian Wells said it’s not time to panic. He’s been getting a lot of calls from people who are worried about their investments. But a drop of only a couple of days doesn’t necessarily mean a trend to a collapse.

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“The U.S. economy looks healthy. We have low unemployment, a heathy job market. The consumer confidence is good. We are having individuals and businesses spending money,” MacLean said.There are precautions investors can take now.

“If you are an individual out there, you should be looking at your asset allocation and talking to your financial advisor about rebalancing and making sure that your risk tolerance and your portfolio are aligned,” MacLean said.

According to MacLean, the stock market could continue to drop for a little while longer as computer-generated trading will most likely trigger more sales before the market evens out.