Stock market down due to Coronavirus

Published: Feb. 28, 2020 at 6:34 PM EST
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The stock market plunged again, Friday over fears of the Coronavirus.

It was a rough week for the stock market, with many companies’ stock dropping more than 20 percent.

Experts say reports of the Coronavirus spreading in parts of Europe and here in the United States are to blame for the chaos on Wall Street.

“It is continuing mainly because there is an unknown, we don’t know what the Coronavirus is going to bring, how that is going to end up, how is that going to affect the economy in the short term and the long term," said Brett Bronski, Halls Financial Advisors, senior financial advisor.

Brett Bronski has worked in finances for 20 years and says he has seen much worse than this.

He says, the market will probably continue to drop as we continue to learn more about the Coronavirus.

Since Monday, the DOW is down 4,000 points this week. That’s about a 12 percent drop.

But for some investors, it’s an opportunity to buy stocks at discounted prices.

"It’s like going to the grocery store right now, if you could go to the store and buy everything at 15 to 20 percent off, you would probably do it," said Bronski. "If you’re a long-term investor, you’ve got a very good opportunity to invest in the market right now at a 15 to 20 percent discount from where it was just 10 days ago.”

Bronski says, if you are interested in investing in stocks right now, it is good to do your research on S&P 500.