Ethan Anderson, a financial advisor with Rehmann accounting in Grand Rapids, sat down with WZZM to talk about the recent plunge in the stock market.
On Monday, Feb. 6, the Dow Jones industrial average suffered its biggest one-day point drop in history, plunging 1,175 points. The 4.6 percent decline was not sizable enough, however, for Wall Street experts to consider it a crash.
Financial experts are considering this drop as a "correction" in the market, which had a fast ascension. "But investors got too exuberant and stock prices ran up too much, too fast, making the market vulnerable. Stocks simply had too many buyers at the start of the year," according to Jay L. Zagorsky from Ohio State University.
Because about 52 percent of Americans are invested in the stock, Anderson talked about what this change in the market means and what changes, if any, people should make.
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