Fort Worth Financial Expert Suggests Calm Amid Coronavirus Fears: 'Investors Should Be Patient'
FORT WORTH (CBSDFW.COM) – The uncertainty surrounding the international spread of the Coronavirus is brutally impacting the U.S. stock markets.
The Dow, S&P, and NASDAQ all saw more than a 3% drop on the same day, erasing all gains this year.
Fort Worth financial expert and Senior Vice President of Investments for Morgan Stanley, Jim Lacamp said, "This is massive uncertainty. Wall street hates uncertainty more than anything else."
He added as long as fears about the Coronavirus continue, production chains will be disrupted in the countries where the virus is wide spread.
"When you can't send people into factories then you can't create these products. When you can't create the products you can't sell the product. When you can't sell the product it could ultimately mean jobs, corporate earnings so all these things tie in globally now," said Lacamp.
While concerns are abundant, Lacamp said it's too soon to panic, "I think investors should be patient. I don't think investors should panic."