Experts say not to panic over the drop in the stock market
DAYTON, Ohio (WKEF/WRGT) - When you hear stocks are dropping, it's easy to panic.
But some experts say this is normal during a political crisis.
Cedarville economics professor Dr. Bert Wheeler said you don't want to sell or buy during crashes like the one May 17; just sit back and watch.
All eyes are on the White House. Earlier this year, the Dow hit record numbers due to optimism over President Trump's economic plans, which include tax cuts and decreasing regulations.
But if this Russia story overshadows those plans, Wheeler said investors should prepare for a bumpy ride.
"In the short term, this political turmoil can cause to roil around a little bit,” Wheeler said, “but in the long term we'll probably sail right through this and it will come back up once things settle down again.”
Wheeler said if you're going to invest soon, diversifying your portfolio is the best way to protect your money.