FAYETTVILLE, Ark. (KNWA) – The stock market volatility this week has many people in Northwest Arkansas worried about their financial futures.
On Thursday, the Dow Jones dropped more than 1,000 points.
It’s the second 1,000 points plunged this week.
Many people with investments saw their retirement account balances drop by 10 or 20 percent.
But Ben Mclintock, an officer with Arvest Wealth Management, said if you plan on saving your money, don’t panic.
“If this is something that’s going to be a long-term investment strategy for someone, they don’t need the money for five, ten, fifteen years from now, this is really nothing more than a blip on the radar screen for them,” said Mclintock.
Mclintock said a drop like this is actually long overdue.
He called it a market correction, and it’s perfectly normal.
He pointed to other factors like the gross domestic product and earnings reports to show the overall economy is strong.