Stock market drop may create a good opportunity to invest in more stocks

COLORADO SPRINGS, Colo. (KKTV) - The stock market took another tumble on Friday, with the Dow dropping about 2,200 points more than Thursday’s historic losses. This comes after President Trump’s announcement on tariffs yesterday.

11 News is taking a look at how those losses are going to affect you, especially if you’re planning a major purchase or have recently retired.

The tariffs are suspected of being the main issue when it comes to the drop in trading. One Colorado Springs financial advisor told 11 News that now might be a good time to consider buying more stocks.

Some experts say that President Trump’s tariff plan is causing fear for investors about potentially higher inflation, which leads to weaker economic growth.

Nearly every industry has taken a hit in the past two days, as well as the value of the U.S. Dollar against other currencies.

Financial planner Ryan Reynolds said people should have faith in the economy, as its recovery has historically always been greater than the drop. Reynolds is a registered representative of Aurora Securities and his RIA is Secure Asset Management Group.

“I think now is a really good time to look at your portfolio, talk to your financial advisor, and see what opportunities exist within your portfolio,” Reynolds said, ”we will get through this, we’ve gotten through a lot worse, so take advantage of this opportunity that doesn’t come around that often.“

He also recommended diversifying assets for those who are looking to retire, so they can let their stocks recover during this time.