It’s been a volatile week on Wall Street as markets rise and fall at vast margins.
We talked with local financial advisor Howie Pentony, who said that a number of factors are at play causing the sharp changes in the market.
“The valuation of stocks, or the value of stocks, is at a 40 year high. Inflation is at a 40 year high. Global growth is slowing,” Pentony said. “Nobody should be surprised that the markets are volatile.”
While the markets remain unstable on a day-to-day basis, Pentony says there are two basic beliefs investors should have in regards to their finances.
“Investors should practice allocation and diversity. If you have a diversified account and you have allocation in several areas, you’re probably fine,” Pentony said.
Pentony says the NASDAQ is down about 16 percent since the beginning of the year.
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