How the Wall Street Roller Coaster Affects Your Finances
A conversation about the huge drop and huge jump in the market over the last week. Is it the coronavirus or just the nature of the beast?
It’s been a wild roller coaster ride on Wall Street this past week.
Last week saw one of the biggest drops in the Dow’s history. Yesterday, the market saw it’s biggest single-day jump in history. Detroit Today host Stephen Henderson talks with an expert about what this volatility means for you and your savings.
“The market rewards patience, diversification and low fees.” – Matthew Roling, professor
Listen to the conversation about stocks and how and why they fluctuate.
Guest
Matthew Roling is the Interim Chair for the Department of Accounting at Wayne State University Mike Ilitch School of Business. Roling tells Henderson that “the market rewards patience, diversification and low fees.” He says the large drop last week in stocks was undeniably a reflection of the interconnection between the US and Chinese economies, adding that the consensus cause of the dip by economists was the Coronavirus outbreak in China. “It was a realization by the market that what’s going on with this virus might seriously wreak havoc on our economy.”
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