Stock Market Has Worst 2nd Quarter Start Since 1929
The Dow Jones Industrial Average closed down 458 points on Monday.
It’s the worst April start since 1929, but a rally may soon happen due to market volatility.
Many financial news outlets reported President Donald Trump’s Twitter criticism of Amazon sent equities into a nosedive.
“We’ve entered into a period of volatility again. For the last several years, we’ve enjoyed some non-volatile years. Volatility is normal for a market. In fact, arguably, it’s healthy for a market," said Marcus Johnson, vice president of investment management and certified financial planner at Johnson Financial Advisors in Tempe.
With respect to Amazon, he said the company’s long-term strategy seems promising.
“A tweet will spook retail investors, meaning most people that are buying and selling. But overall the money managers continue to see value in Amazon," said Johnson.
The Dow closed Tuesday 389 points higher.
I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!— Donald J. Trump (@realDonaldTrump) March 29, 2018