Montpelier, VT – In light of ongoing developments related to the current geopolitical tensions involving the Russian invasion of Ukraine, and its impact on U.S. financial markets, the Department of Financial Regulation (DFR) is reminding investors in Vermont to have patience and use caution.
The S&P 500, NASDAQ Composite, and Dow Jones Industrial Average have each lost more than 5% of their value over the last week, and while every investor must be prepared to live with a certain amount of risk and uncertainty, financial upheavals can be emotionally distressing. Our recommendation is to maintain your long-term financial strategy.
“Avoid making impulsive financial decisions based on panic or fear that are contrary to your long-term investment goals,” DFR Commissioner Michael Pieciak said. “If you have concerns about your retirement accounts or investments, talk to a registered financial professional.”
Investors should also be on the lookout for scam artists trying to use the recent market downturn into so-called “100% safe” or “guaranteed” investments.
Commissioner Pieciak said, “Always ask if the salesperson and the security are registered with the Department of Financial Regulation.”
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