(Cleveland) - The stock market today handed out a Halloween treat as tech stocks boosted the key indexes to solid gains, wrapping up a scary October.
Equities finished the month of October with the Dow Jones Industrial Average gaining 241 points to 25,115.
However, Baldwin-Wallace University Associate Economics Professor Dr. Kevin Jacques says the October plunge wiped out all the gains made so far this year.
The market was down 6.9 percent for the month of October, and that's only happened 35 times since 1950.
The former Treasury Department economist expects market volatility to continue, possibly into early 2019.
Jacques tells Newsradio WTAM 1100, some experts are concerned about a recession developing next year, but at this point, he feels it's too soon to tell.
He advises investors to consider long term goals, and not to focus on the day-to-day, up-and-downs of the market.
Dr. Kevin Jacques is the Boynton D. Murch Chair in Finance at Baldwin Wallace University.
Most recently, he was a senior financial economist responsible for advising Treasury and George W. Bush Administration officials on policy issues regarding the U.S. banking and financial system.
During his tenure at the Treasury Department he advised over one dozen foreign countries on matters of U.S. banking and financial policy.
In 1994, he served on the President’s Working Group on Financial Markets examining systemic risk in U.S. financial markets. In addition, during his time in the District of Columbia.
(Photo courtesy of Baldwin-Wallace University)
© 2018 iHeartMedia, Inc.
Hear news updates at the top and bottom of the hour: wtam.com/listen