LYNCHBURG, Va. – It’s been a wild rollercoaster on Wall Street.
The DOW closed down 66 points Tuesday, after being down more than 800 that morning.
Yesterday the DOW closed up nearly 100 points, after a 1,200-point swing — the largest swing since 2008.
Dr. Nancy Hubbard, dean of business at the University of Lynchburg, says a lot of the correction in the market has to do with concerns over Russia and inflation, but investors shouldn’t be worried.
“If you are looking to retire in the next couple years, you’ve probably already started to become more conservative in your holdings, so this shouldn’t really impact it too much. If you’re a younger person, we know that at some point there is going to be a correction in the market; but if you’re holding for the long term, this shouldn’t really make any difference at all,” said Hubbard.
She says that’s because, despite an occasional correction, trends show the stock market has continued to go up over the past 70 years.