DOTHAN, Ala. (WTVY) -- The stock market fell for the fourth consecutive day as global concerns over the coronavirus continue to rise.
Should this downward trend concern those with 401(K)'s and IRA saving accounts?
Ariss Financial Group in Dothan Senior VP, Marc Hall says the current trend of the stock market should not be concerning.
"Do not lose sight of your long-term objectives of what you're doing,” Hall says.
The stock market, much like the rest of the world, has been monitoring the growing threat of the coronavirus causng the DOW to drop another 300 points Friday.
"The stock market does not like uncertainty,” Hall said.
Those who have investments such as a 401(K) or IRA savings account may feel uncertain about their investments at the moment, but Hall warns folks not to stress.
"When you look back at history of some of the same type of things happening, what you've seen is short-term fluxuation, short-term volatility that we just take a trajectory down for a few days, which we've taken a really hard hit to the market this week, and it can be very fearful."
Although there's no cause for concern, hall recommends speaking with your financial adviser if you are worried.
"You should be talking to your advisor right now and asking questions about what is happening, am I where I need to be, is this the way I need to be investing based on my long-term goals, not based on the coronavirus, but based on what I am trying to achieve over time,” he said.
Hall says anytime the market takes a town turn, people associate that with the Great Recession just 12 years ago.
"In 2008 there was no good news."
The difference between then and now is that the coronavirus is just an instance in our current history.
"Just like other events over time once we're about to figure that out, put it in its place, take care of it and let it move on, then what you get back to is the underlying fundamentals of the market,” Hall concluded.
All in all Hall says to not let short-term fluctuations in the stock market sway people from their long-term investment goals.
Researchers nationwide are working to develop a coronavirus vaccine.
It's expected to be tested in clinical trials.