KANSAS CITY, Mo. -- Monday was worst day of trading on the New York Stock Exchange since 2008, and financial advisers in Kansas City are urging investors to not panic.
Growing concerns over the economic effects of coronavirus are prompting a massive sell-off on Wall Street.
Dr. Nathan Mauck, Professor at the Henry W. Bloch School of Management at the University of Missouri Kansas City told KMBZ's Dana and Parks this can be a particularly concerning time for seniors on the verge of retirement. He says to keep in mind the market is coming off of all time highs.
"It's usually best to not get involved in these kind of panic days," Dr. Mauck explained. "Just kind of wait until cooler heads prevail."
Dr. Mauck said the circuit breaker on Monday that halted markets are in place to protect the market.
"It would halt trading for a certain amount of time," Mauck said. "That's in order to kind of let order flows clear, and let order prevail a little bit."
Dr. Mauck added treasury investments are a safe investment, but the yields are incredibly low. He explained that risk is just part of investing, but is advising investors to build their savings to balance risk.