The Dow Jones Industrial dropped over 900 points Wednesday—marking one of the biggest losses this year for the market.
Local financial advisor Howie Pentony explains.
“It was a fairly significant selling, and its been attributed by the investing public and median, and so on, as people are scared to death that the COVID is coming back,” Pentony said.
The United States has seen record number of coronavirus cases in the past week.
But, Pentony also says the big drop shouldn’t be a reason for major concern.
“So we’re down eight percent (on the year). We’re still well above where we were, so this doesn’t concern me at all,” Pentony added.
Pentony said the upcoming election could also be playing a factor in the stock market drops.
