The U.S. stock market continued to sink Monday because of the panic over the Coronavirus with oil prices taking the biggest crash in nearly 30 years.
"It's crazy right now," Cindy High, Platinum on Wall Street CEO and financial advisor, told KOSA.
High added that fear and uncertainty are largely rattling Wall Street and retail investors.
"People are emotionally connected to their money,” High told KOSA. "So, the coronavirus talk that's ongoing is spooking investors."
High said she hasn’t personally seen such market carnage like this before.
"The market is going to move,” High told KOSA. “It's going to ebb and flow. We're going to see the downs, we're going to see the ups.
"The downs that we've seen in the past few days is not normal. It's actually never happened I do believe — the downs we've seen the past few days."
High, however, assured investors that the stock market usually recovers after such short-term plummets. In the past, the stock market saw similar dips during epidemics like SARS and Ebola. After weeks of uncertainty, the market can usually find some traction and head higher.
President Donald Trump's Economic Adviser Larry Kudlow agreed.
"We just think the economy is sound and therefore I just don't think this short-term stock market plunge is gonna have any long-term effect," Kudlow told KOSA.
High said investors shouldn’t lose their faith in the market. Long-term investments are still sound choices and will pay off in the long run.
"Money is emotionally based. We don't take the time to stop and think — and not sell so quickly," High said.
High added that solid stocks are on sale, even right now.