Stocks drop 600 points amid economic concerns

CHICOPEE, Mass. (WWLP) – Stocks dropped down about 600 points on Tuesday, as worries about the economy rattle Wall Street.

The stock market is constantly going up and down. 22News got a chance to speak with Matt from St. Germain Investments and he says September is not the best month for stocks.

He told 22News that this month is historically a weak month for U.S. stocks and it has been the way for decades. According to Farkas, that has to do with the back-to-school season, vacations coming to an end, and traders moving back online which leads to portfolio rebalancing which leads to more volume and some quick changes.

So far the economy and job market is doing well but it is showing some signs of softness as it is not as strong as it was about six months ago. But he says the unemployment rate is in a good place.

Farkas says stocks constantly fluctuate constantly but they can help people in the future. “In general stocks are an excellent tool to grow your wealth long-term. I urge people to think of them as long-term investments. If you view yourself as a business owner actually owning stocks and thinking from that perspective.. they have a really amazing way of growing wealth over time.”

He says people can have an investment account or even 401K to have exposure to the stock market. He says it has been a good year for the stock market. Even though it is not a smooth ride it can help people to keep growing their wealth.

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