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Aug. 9, 2019Maryville, MO |  By: Ryan Woltkamp

Financial advisor talks stock market

Stocks fell sharply on August 5th making it the worst day for stocks in 2019.
Financial Advisor for Edward Jones and New York Stock Exchange member, JR Kurz, says that the market has come back quite a bit since then and that the bigger picture is still bright.

"Even before that, the stock market was still having its best year since 2013.  I think one of the biggest causes for Monday's big downturn was that the Down was down over 700 points.  The SMP was down nearly 3%.  There's higher anxiety.  And then the Chinese lowering their currency.  The big thing that's been in the news has been the trade tensions between the U.S. and China.  On Monday, the weakness was stirred by concerns over the retaliatory measures between the U.S. and China.  That stokes fears that the global economic growth will suffer if the world's two largest economies can't reach some sort of a deal."

Kurz also says that the recent tariffs on Chinese goods imposed by the Trump administration have had an effect on stocks.

"These tariffs would hit a lot of consumer goods which causes a lot of concerns such as apparel, electronics, and phones.  So that's been a big reason as to why we've seen this volatility."