Experts weigh in about market meltdown as stock market plunges

FRESNO COUNTY, Calif. (KFSN) -- A plunging stock market, causing concerns across the nation and the world.

Trader's warning Americans to be patient.

"It is not a time for people to be panicking, I'm not in panic mode, I don't feel panic her," said Senior Floor Trader with Trademas Inc, Peter Tuchman.

After Friday's disappointing jobs report showed the U.S. unemployment rate at 4.3%, the DOW Monday morning opening in the red and closing down more than 1,000 points.

"I think that we shouldn't read too far into it, yea its concerning, you're watching your 401Ks go down, your IRAs it could be just because price points are too high," said Fresno Financial Advisor, Sean Mason.

Financial Experts also say high interest rates, a slowing American economy, and threat of war overseas -- led to the market sell off, which started in Japan with their benchmark stock index plunging 12.4 % Monday.

"All of these things created a perfect storm, and you had everyone just wanting to sell everything they got," said Tuchman.

"So, across the board there was nowhere to run, nowhere to hide."

Sean Mason with Fresno Financial Advisor's says he believes in staying in the market and now could be a good time to invest a fixed dollar amount on a regular basis into your retirement savings plan.

"When stock prices are going down and you are contributing a certain amount of money to your account, you're purchasing those stock prices at reduced pricing, meaning you're getting a better deal," said Tuchman.

Mason adding from 2009 to 2021 -- it was arguably the second most productive market, with 10% to 20% dips.

Because of the positive economic environment during that time, the bounce back happened quickly.

This time, it's best to keep a close watch and be patient if you can.

"This one we have to be a little more concerned about, are we going to have a quick recovery? Or are we going to have a 2001, 2008 recovery where it took 4 and a half years to get back to where we were when we started?" asked Mason.

For news updates, follow Brianna Willis on Facebook, Twitter and Instagram.