800-point drop in stock market raises questions about economy
Financial adviser suggests holding onto investments
ROANOKE, Va. – The Dow Jones experienced its worst day of the year Wednesday, and financial experts are trying to determine what it means for the economy.
The stock market dropped 800 points, which was the largest one-day drop since the Dow fell 832 points last October. However, the market slightly rebounded Thursday.
Financial planner Daniel Colston, of Roanoke-based American Financial Planning, says it's too early to tell if the drop is the sign of an oncoming recession. Colston says factors such as America's high gross domestic product and low unemployment rate are reasons to remain bullish on the market.
"I think it's just a blip on the radar. I don't think this is necessarily the start of the next recession, although I will keep my eye on it for the next few weeks."
Colston says the drop could be used as a reminder to check on investments and steer yourself away from high-risk investments if you are able.
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