‘Stay calm’: Financial experts advise ‘stay the course’ amid volatile stock market

KANSAS CITY, Mo. (KCTV) - Stocks tumbled Monday as the global market reacted to the economic impact of tariffs imposed by President Donald Trump.

The Dow Jones Industrial Average dropped 349 points, or 0.9%. The S&P 500 slipped 0.2%, while the Nasdaq Composite managed a slight gain, rising 0.1%. Despite the downturn, financial experts are urging investors not to panic.

“Stay calm. what you were investing for originally in the first place,” said Shean Fletcher, founder and wealth advisor at Wealth KC. “Make sure that that proactiveness doesn’t lead to a poor decision now.”

Fletcher said conversations about whether or not to invest are being had with his clients. He is advising them to plan ahead and be proactive.

“Is it the money I need to spend in the next three- to five years from my retirement or is it my more longer-term bucket,” said Fletcher.

Curt Smith, a Kansas City resident, said he sees opportunity amid the uncertainty.

“Quite frankly, I feel like we’re heading way in the wrong direction,” Smith said. “But there are people who got terribly rich during the Great Depression by investing in stocks when it was really low.”

Smith plans to invest money from his savings, a privilege he acknowledges not everyone has.

“If you had plenty of money and you can invest, this is a great time,” he said. “But let’s face it, most working people are living paycheck to paycheck.”

READ MORE: Trump threatens more tariffs on China as global markets shudder over how much pain economy can take

Fletcher said the tariffs have sent shockwaves through the global economy, but investors should avoid drastic portfolio shifts.

“If you’re at 60% stocks and 40% bonds, consider going to 65% stocks,” he said. “But don’t jump straight to 80%. It could get worse — we just don’t know.”

Fletcher also warned that selling too early could lead to significant losses in the long run.

“If you miss the best 10 days in the market, your long-term returns can be significantly impacted,” he said. “And data shows that those best days often come right after the worst ones.”

Meanwhile, some Kansas City residents expressed concerns about the future.

“I’m very concerned because futuristic-wise I got children too, so they’re gonna have to grow up in this same type of economy situation so if you don’t get it fixed now, then when?” said KC resident Benjamin Jones.

Looking ahead, Fletcher said there’s still hope for stability if negotiations are made at the White House and a resolution is reached in the trade war.

“If we can push this out 90 days, let cooler heads prevail, have conversations, and create agreements that work for everybody I think you’ll get stability in the market and potentially can see a turnaround from there,” he said.

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