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Investment Advisor: Market Drop Following AP Hack a "Short-Term Blip"

Investment Advisor: Market Drop Following AP Hack a

The Dow Jones Industrial Average dipped sharply early Tuesday afternoon because of an erroneous report claiming the White House had been attacked.

The Associated Press said someone hacked its Twitter account to send the tweet making that claim.  See more on that tweet here.

In West Michigan, Regal Financial CEO John Kailunis told WOOD Radio why it unnerved investors temporarily.

"What it essentially does, is it distills confidence that people have in the markets.  People want to make sure they can count on things, whether it's an accounting standard or communications."

Kailunis said it's important for investors to focus on the long-term, instead of on short-term dips like Tuesday's.

"There's money to be made on the downside if you're quick enough to catch it, but overall the investors need to not focus on short-term blips like that.  Focus on the long-term."

 

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