BILLINGS- It was a bad day on Wall Street, the third worst in history.
The Dow Jones Industrial Average closed down 832 points, the worst since February of this year.
The NASDAQ also took a plunge, closing 4 percent down, its worst day since the Brexit Referendum of June 2016.
Those most affected were the technology-based stocks, like Amazon, Apple, Facebook and Netflix.
But according to market analysts, it’s all part of the natural ebb and flow of the markets.
Meagan Dow, senior research analyst with Edward Jones, said investors can still have confidence.
“For the last few years, we’ve had almost unusually low market volatility, so it’s been kind of smooth sailing for a lot of investors,” said Dow. “And this year what you’ve seen is volatility has picked up so stocks are moving around a lot more than they were for the last few years and that can feel very jarring to an investor. But in reality, we expect these kinds of swings. We’re actually returning to more normal levels of volatility. If you look historically, we see drops like this happen pretty frequently and it’s not really outside of the norm.”
Some analysts point out, however, stocks are sliding sharply because investors are worried about rising interest rates.
Carrow was in Billings Tuesday and Wednesday to give presentations to Billings investors on strategies to navigate the market.