‘Do not panic:’ Local expert gives advice after stock market drop

It was a roller coaster on Wall Street Monday. In just minutes of the opening bell the Dow plummeted more than 1,000 points.

In the end, the Dow closed down 588 points at 15,871 and shortly after the market opened, the panic began.

“It’s very scary,” said Pam Newman, who lives in South Bend.

“This is never good news if you own stocks,” Margaret Forster, a Finance Professor at Notre Dame’s Mendoza College of Business.

Forster says while the numbers are bad, it’s not a sign of another recession.

“This is not 2008. This is not a crisis that was made in the U.S., this crisis is made in China, made in the emerging markets,” Forster said.

View Forster’s interview on the WSBT-22 website.