If stock market gyrations make you queasy, you may not want to read on.
The Wilshire 5000 Total Market Index has lost $2.8 trillion in value since the stock market slide began on July 22. Some $600 billion of that went up in smoke on Wednesday, when the index and the Dow Jones Industrial Average both dropped about 520 points.
Not surprisingly, the stock market’s wild swings in recent weeks have sent investors and retirees scurrying to their financial advisors for some hand holding. The main message they’re hearing: Stay put.
“Try to take a step back from the day-to-day,” said Chris Philips, senior investment analyst with Vanguard. “Reacting to these ups and downs and sideways swings can actually do more harm than good for most investors.”