Dow Jones Hits Lowest in Twelve Years
By: Danielle Todesco
Updated: March 2, 2009
The Dow plunged to its lowest in twelve years Monday but local advisors still say not to panic.
Insurance company AIG posted their biggest losses in corporate history. Financial advisor Martin Miller with Edward Jones says that helped drag the market down. But Miller says while the numbers don't look good right now, there are some benefits to a crash. He says it's a great time to buy quality investments at low costs and if you're already invested in the market, he says stay put.
"We believe the last 16 market recessions that have happened, within a few months after those have ended...the market has fully regained itself and has gone to new highs each time. We believe this is number 17."
Miller also advises folks to get with a professional and take a second look at your current investments. It might be time for a change.
