For the second day in a row, the stock market plummeted, marking the worst week since March 2020.
Tim Clarkson, Van Clemens financial firm stockbroker and vice president, wants to remind people the markets are volatile and going through difficult periods is a part of the process.
Clarkson has been steering clients toward the best financial strategies for 40 years.
“Clients have been really nervous now for the last two months, and even more nervous, obviously, when they see the stocks plummeting like this. It’s scary,” Clarkson said. “I’ve been through this many times before. This isn’t the first time I’ve been through a difficult market.”
President Donald Trump’s tariffs are shocking the market globally. The market has dropped almost 10 percent in two days.
Finance experts explained that shifting focus to fall in line with the market changes is a good way to move forward.
“You want to focus on businesses that can do well, even if we do go under recession. I think things like drug companies make sense,” he said. “Also buying some gold stocks, which do well in fear markets.”
The shift in the economy is shaping how investors view gold. Clarkson predicts investing in gold can be worthwhile in the short run.
“When stocks drop this sharply, it makes it seem like the world is coming to an end, and that really isn’t true. It’s a fiction,” he said. “You just have to swallow hard and stay with your long-term strategy.”
