Sioux Falls, S.D. - The Dow Jones Industrial Average closed up more than 560 points Tuesday after another volatile day on Wall Street. Monday’s nearly 1,200 point drop had many Americans worried about their investments. Experts said it's times like these when it's important to have a game plan in place with your financial adviser.
“This is just a healthy part of the Stock Market cycle. You know we've had a lot of highs lately and so we were due for a dip,” Lynn Financial Registered Investment Representative, Christina Lynn said.
It was a roller coaster of emotions the past two days.
“Anything that we've gained this year and part of last year probably was gone,” Sioux Falls investor, Dennis Renli said.
“Their money is dear to their hearts. There’s a lot of emotion wrapped up in retirement plans,” Lynn said.
The stock market plummeted to its worst single-day point decline in history Monday.
“Well I think the cause is just a correction and I think eventually it will go back up,” Sioux Falls investor, Ron Qualseth said.
Christina Lynn, a Registered Investment Representative with Lynn Financial, said this is just how the Stock Market works.
“It's easy to get concerned about this, but the best thing to do in times like this is really just to look the other way. When you react with emotion you're basically selling at the low point which is not good for your future,” Lynn said.
“You look back in the 30s and a lot of people lost a lot. Lost everything. Yeah my money's invested, but it's very conservatively and it's spread out all over. I don't own any individual stocks, but I’m in the market,” Renli said.
Any investment in the market is a gamble.
“At our age if we lose we can't, we don't feel like we've got enough time left in our life to for it to build back up again,” Renli said.
“There is no crystal ball. I don't know if it's going to go up or down, but I do know that as long as they have a game plan in place, put their seat belt on and weather the storm,” Lynn said.
Many advisers KSFY spoke with said their clients aren't too concerned about the market drop because of that game plan they have set in place. Analysts said today's 567 point gain is a sign from investors that the economy remains strong.