GREENSBORO, N.C. — Looking ahead to Monday, there’s a big question mark about what the stock markets will do after last week saw the biggest drops in six months.

Wouldn’t it be great if we had a crystal ball that could tell us what will happen when the stock market opens in about 10 hours?

Even though there’s uncertainty with the ups and downs, financial experts WFMY spoke with agree: don’t panic. Knee-jerk reactions—buying or selling out of fear—could cost you in the long run.

“Unfortunately, the crystal ball is very hazy today,” said Michael Wittenberg, president of Wittenberg Priddy Blankenship.

“You can’t even figure out where to go right now. So you have to stay calm,” said Ja’Net Adams Founder of EMACK Consulting and Debt Sucks University.

The uncertainty about how and when the market will correct itself is driving some investors to panic.

“The worst mistake is panic, and people will feel if I take any action, it will be better, and that’s not necessarily true,” Wittenberg said. 

“The biggest mistakes I see people do is taking their money out and being fearful because then you end up missing the upswing,” Adams said.

So, what should you do? First, talk with your financial advisor. Each person’s portfolio and financial goals are different, so there’s no one-size-fits-all solution.

Make sure your investments are diversified. 

“Diversify your investing because if one industry is going down, the other industry could be holding it up,” Adams said.

Finally, if you haven’t already, get enough emergency money saved to weather any storms.

“Do they have enough money in their checking, a money market to meet their needs? Typically we’re taught that a person needs about six months of their normal expenses to have as a reserve,” Wittenberg said.

Here’s why that emergency savings is so important: Over the weekend, President Donald Trump was asked if the U.S. economy could fall into a recession later this year. He declined to answer.

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