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  • Panic over the coronavirus has

  • lead to the biggest one week

  • drop in the stock market since

  • 2008.

  • Here's what happened today.

  • The DOW was down 357 points --

  • pushing its loses to the week

  • to 12 percent. The NASDAQ was

  • UP by almost a point -- and

  • the S&P was down by 24 points.

  • With the advise of a local

  • financial analyst -- here's

  • reporter Jason Cerjak.

  • The outbreak of the

  • Coronavirus has many around

  • the world on edge... We've

  • seen a big sell- off on all

  • financial markets over the

  • past week. But local stock

  • experts say the recent drop is

  • to be expected given the

  • cirsumstances. Maxwell:

  • "VOLATILITY HAPPENS EVERY

  • SINGLE YEAR IN THE STOCK

  • MARKET. GOING BACK TO 1980,

  • THE AVERAGE PULL BACK FROM A

  • HIGH TO A LOW IS RIGHT AROUND

  • 14 PERCENT." Maxwell says that

  • fear is getting the better of

  • investors and markets are

  • reacting to that fear.

  • Maxwell: "SO WHEN THERE'S FEAR

  • IN THE ECONOMY, PEOPLE TEND TO

  • STAY AT HOME, NOT SPEND AS

  • MUCH MONEY. SO EARNINGS FOR

  • CORPORATIONS POTENTIALLY COULD

  • FALL. WHICH THEN THE STOCK

  • MARKET FOLLOWS EARNINGS IN THE

  • LONG RUN." Maxwell says it's

  • too soon to say how big this

  • downturn will be. He advises

  • money soon to wait it out.

  • Maxwell: "IF YOU'RE STILL

  • LONG-TERM AND CAN HANDLE MORE

  • DOWNTURN POTENTIALLY, STAY THE

  • COURSE." He says that while

  • it's tough not to panic...

  • Avoiding a rash decision is

  • best for long-term results.

  • Maxwell: "IT ALL DEPENDS ON

  • YOUR SITUATION, BUT USUALLY

  • YOU DON'T WANT TO LET EMOTIONS

  • GET INTO WHAT YOU DO, BUT

  • THAT'S HARD TO NOT ALLOW IT."

  • Maxwell advises that if you

  • are within a year or so of

  • retirement or if big

  • fluctuations in stock prices

  • make you nervous... Then you

  • might want to change how you

  • invest your money. Jason

  • Cerjak...WKBN 27 First News

  • People are also trying to take

  • advantage of the coronavirus

Panic over the coronavirus has

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