The coronavirus and stock market

The coronavirus and stock market

And hospitals.

The u-s stock market continued to plummet today.

At 5... we explained the dow closed more than 2-thousand points down.

Coronavirus fears and a crash in oil prices fueled the drop.

Some are wondering...is it time to pull out of the stock market..

Or the right time to buy in?

News 10's richard solomon joins us now live in the newsroom..

He spoke with a financial advisor on what people should do.

Take a look at these numbers... this is where market closed today.

Just a little more than 2 thousand points.

Yes...this is the worst day since october 2008.

But a some say...this might not be as bad in the long run as it may seem for your pockets.

" frank volkers says the phones have been buzzing none stop at the volkers group financial .

"a quarter of my calls are people wanting to buy well 3 quarter are people wanting to sell" volkers has been in the stock market game for nearly 60 years now.

But on monday morning he noticed something alarming..

The market opened nearly 2 thousand points down...sparking a trading hault.

All from fears of the coronavirus.

Volkers says there are only a couple reasons this drastic fall happened.

"the market really moves abnormally through two motions, fear and greed.

They get they get more fearful and chase the stocks down and get out of the stocks."

Volkers says you can expect to see the economy slow down even more.

"a typical retired account will be maybe 50 or 60% a stock.

You probably should be getting back to that spot because you've lost some equity, stocks and so you can make up for that.

But what does that mean..

Volkers says...buy in!

If you have the money for it...purchase the stocks while they're low.

I also spoke with indiana state economic professor bob "gill" "is this a time for people to freak out should they freak out?

No no no" "where the stock market is when you retire, 40 years is almost completely unrealted to what's happening today" volkers says the number one things in the stock game he's learned...is having patience.

"if you get out now i guarantee ya when the markets back up where it was a year from now you're going to be sorry."

The markets open again the markets be sorry."

The markets open again tomorrow morning at 9:30 volker says the markets could see a positive change here soon.

Reporting live in the newsroom richard solomon news 10 rondrell.

Today, area hospitals started new screenings for started new hospitals