Financial expert: Don't panic over crashing markets from Russian invasion in Ukraine

Financial advisor Lori Torrano with Edward Jones in Norwalk says Russia's attack on Ukraine is directly affecting the markets.

News 12 Staff

Feb 24, 2022, 10:40 PM

Updated 819 days ago

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The stock market showed gains Thursday despite the crisis in Ukraine, but world markets showed volatile declines.
Financial advisor Lori Torrano with Edward Jones in Norwalk says Russia's attack on Ukraine is directly affecting the markets.
She says she doesn't know yet what the outcome will be, but says you should not panic.
"In the near term it's important that people just really, you know, focus on their long term plan, remain calm, and if they have a financial advisor, check in with their financial advisor and just really have a conversation about what's really right for them in this situation," said Torrano.
Torrano says in conflicts around the world since 1940, markets have gone down on average 6%, but months later have shown higher gains.
Torrano says keep short term money you'll need in the near future out of the market, and look at this market hit as a good time to invest long term.
"Try and increase your contributions you know and take advantage of the fact that you could be buying companies at a more attractive valuation, at a lower price right now," she said.


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